MoSPI releases uniform guideline for compiling Gross State Value Added with base year 2022-23
On 7 May 2026 MoSPI released a uniform guideline for States and UTs to compile Gross State Value Added (GSVA) estimates with the new base year 2022-23, prepared by a sub-committee on regional accounts chaired by Prof. Ravindra H. Dholakia.
Summary
The Ministry of Statistics and Programme Implementation (MoSPI) released a uniform guideline on 7 May 2026 for compiling Gross State Value Added (GSVA) estimates, after updating the base year of the National Accounts to 2022-23; States and UTs must adopt the new base year for Gross State Domestic Product (GSDP). The guideline was prepared by the Sub-Committee on Regional Accounts of the Advisory Committee on National Accounts Statistics (ACNAS), chaired by Prof. Ravindra H. Dholakia, formerly of IIM Ahmedabad, with members from State Governments, RBI, NITI Aayog and academia. GSDP equals GSVA plus net taxes on products, and the guideline aims at better data integration, updated methods, alignment with national aggregates and uniform practices.
Key facts
- Release
- 7 May 2026, MoSPI
- Base year
- 2022-23 for National Accounts; States/UTs to adopt for GSDP
- Prepared by
- ACNAS Sub-Committee on Regional Accounts, chair Prof. Ravindra H. Dholakia
- Formula
- GSDP = GSVA + Net Taxes on Products
Practice MCQs 2 questions
What is the new base year of India's National Accounts that States and UTs must adopt for GSDP, as per MoSPI's guideline of May 2026?
Show answer
Correct answer: A — 2022-23
MoSPI has updated the base year of the National Accounts to 2022-23, and States/UTs must adopt it for GSDP.
Who chaired the ACNAS Sub-Committee on Regional Accounts that prepared the uniform GSVA guideline released in May 2026?
Show answer
Correct answer: D — Prof. Ravindra H. Dholakia
The Sub-Committee on Regional Accounts was chaired by Prof. Ravindra H. Dholakia, former professor at IIM Ahmedabad.