Overview The Ministry of Statistics and Programme Implementation (MoSPI) is in the process of revising the base year for national accounts. The new base year is set as FY 2022-23 , and the new series of national accounts is scheduled to be released on 27th February, 2026 . This revision aims to improve the accuracy and relevance of national accounts statistics for economic analysis and policy formulation. Key Developments Base Year Revision: The base year for the new series is FY 2022-23 . Release Date: The new series will be released on 27th February, 2026 . Advisory Committee: An Advisory Committee on National Account Statistics (ACNAS) , chaired by Professor B.N. Goldar , has been constituted to advise MoSPI. Discussion Paper: MoSPI has released a discussion paper on methodological improvements in compiling national accounts aggregates. Feedback Invitation: MoSPI invites comments and feedback on the discussion paper by 10th December, 2025 . Advisory Committee on National Account Statistics (ACNAS) The Advisory Committee on National Account Statistics (ACNAS) , under the chairmanship of Professor B.N. Goldar , plays a crucial role in advising MoSPI on: Inclusion of new data sources for improving the estimates of National Accounts. Methodology for compilation and presentation of National Accounts Statistics. Ensuring the statistics are suitable for economic analysis and policy formulation. The committee includes representatives from various Central Ministries and Departments, State Governments, Academia, and Research Institutions, ensuring a comprehensive and multi-faceted approach to national account statistics. Discussion Paper Details The discussion paper released by MoSPI focuses on changes in the compilation of aggregates using the production/income approach in both nominal and real terms. This paper is the first in a series, with the next one expected to cover methodological changes in compilation using the expenditure approach. The discussion paper is available on MoSPI’s website: www.mospi.gov.in . UPSC Relevance This news is relevant for UPSC Civil Services Exam , particularly for: GS Paper III: Economy - National Income Accounting, Economic Growth and Development. GS Paper II: Government Policies and Interventions for Development in various sectors. Understanding the changes in the methodology of national accounts compilation is crucial for analyzing economic trends and government policies. Important Facts for Prelims Base Year: FY 2022-23 Release Date: 27th February, 2026 ACNAS Chairman: Professor B.N. Goldar Feedback Deadline: 10th December, 2025 Potential Mains Questions Discuss the significance of revising the base year for national accounts and its impact on economic analysis and policy formulation. Evaluate the role of the Advisory Committee on National Account Statistics (ACNAS) in improving the quality and reliability of national accounts data. Analyze the methodological changes in the compilation of national accounts aggregates and their implications for understanding economic growth and development.