Which of the following statements is/are correct regarding the recent statistical reforms announced by MoSPI?
1. The base year for the Consumer Price Index (CPI) is being updated to 2022-23 to perfectly align with the new Gross Domestic Product (GDP) base year.
2. The revamped Periodic Labour Force Survey (PLFS) methodology aims to provide high-frequency quarterly and monthly estimates for both rural and urban areas.

Question

Which of the following statements is/are correct regarding the recent statistical reforms announced by MoSPI? 
1. The base year for the Consumer Price Index (CPI) is being updated to 2022-23 to perfectly align with the new Gross Domestic Product (GDP) base year. 
2. The revamped Periodic Labour Force Survey (PLFS) methodology aims to provide high-frequency quarterly and monthly estimates for both rural and urban areas.

Accepted Answer

2 only — Statement 1 is incorrect because the CPI base year is being shifted to 2024, while the GDP and IIP base years are being shifted to 2022-23. Statement 2 is correct as the new PLFS methodology will expand high-frequency employment tracking to include both rural and urban areas.

MoSPI Announces Base Year Revisions for GDP and CPI

RBI Approves Record ₹2.69 Lakh Crore Dividend to Government