The Ministry of Statistics and Programme Implementation (MoSPI) on Friday said it has advanced the release of macroeconomic data Gross Domestic Product (GDP) estimates by about 90 mins to 4pm.
As per the current practice, the press releases of GDP are scheduled at 5.30 pm on the specified release dates, a MoSPI statement said
The Ministry of Statistics and Programme Implementation (MoSPI) on Friday said it has advanced the release of macroeconomic data Gross Domestic Product (GDP) estimates by about 90 mins to 4pm.
As per the current practice, the press releases of GDP are scheduled at 5.30 pm on the specified release dates, a MoSPI statement said.
However, it explained that with a perspective to provide the users/media/public more time on the day of release to access GDP data, MoSPI has decided to revise the release time for the press releases of GDP estimates from 5.30 pm to 4.00 pm.
The new release time aligns with the closing hours of major financial markets in India, ensuring that GDP data dissemination does not interfere with active trading, it stated.
This adjustment also adheres to MoSPI's commitment to transparency and accessibility in data dissemination.
The next press release of GDP estimates for the second quarter (July–September) of financial year 2024-25 will thus be available on November 29, 2024, at 4 pm on the website of Press Information Bureau and Ministry's official website (https://www.mospi.gov.in).
The National Statistical Office (NSO), MoSPI releases annual and quarterly estimates of GDP in accordance with the pre-specified releases/publication schedule laid down in advance release calendar of various macroeconomic indicators.
Earlier this month, MoSPI also revised the time for release of Index of Industrial Production (IIP) and Consumer Price Index (CPI) from 5.30 pm to 4.00 pm.