Big news from the government! On February 27, 2026, India will launch a fresh and improved series of national accounts. This new set of economic data will use the fiscal year 2022-23 as the base year, updating how the country's economic picture is drawn. Why does this matter? Because using the latest base year helps make better sense of how India's economy is growing and changing. The Ministry of Statistics and Programme Implementation (MoSPI) shared these plans in a statement on Friday. They’ve formed a special group called the Advisory Committee on National Account Statistics (ACNAS), led by professor B.N. Goldar. This committee's job is to advise MoSPI on bringing in new data sources and improving the methods used to calculate and present the national accounts. To make sure everyone understands these updates, MoSPI will release two discussion papers. The first paper has already come out and focuses on the changes in how the data is compiled using production and income methods—both in actual money terms (nominal) and after adjusting for inflation (real terms). You can check out this colorful discussion paper anytime on MoSPI’s official website at www.mospi.gov.in. The second paper, coming soon, will cover the new ways of compiling data using the expenditure approach—how money is spent across different sectors in the economy. These steps will help economists, policymakers, and everyone interested to get sharper insights into India’s financial world. So, mark your calendars! By 2026, India’s economic data will have a new, fresher face — thanks to MoSPI’s hard work and a dash of expert advice. It's a big leap forward to keep up with our dynamic economy and craft better policies for the future.