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Why Does India’s GDP Measurement Requires a Reset?

Published on: 18th December, 2025

Recent debates among economists, policymakers, and global institutions have raised concerns that India’s current GDP measurement framework may not fully capture the realities of a rapidly changing, digital, informal, and service-driven economy.

News In Short 17-12-2025

In News

  • Iran seizes foreign oil tanker carrying 6 million litres of smuggled Diesel in the Gulf of Oman.

    • About Gulf of Oman

  • The Gulf of Oman is the north-western arm of the Arabian Sea.
  • It forms a vital maritime corridor connecting the Indian Ocean with the Persian Gulf through the Strait of Hormuz.
  • Through the Strait of Hormuz, it provides access to the Persian Gulf, making it vital for global oil and LNG trade.

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    NCAER Reports Rise in Skilled Workforce

    Context

  • The National Council of Applied Economic Research (NCAER) released the report “India’s Employment Prospects: Pathways to Jobs”, Underlining the role of skilling and small enterprises as key drivers of job creation in the country.

    • Key Findings of the Report

  • Employment Trends: India’s self-employment dominance is due to economic necessity rather than entrepreneurial dynamism as most of the small enterprises function at subsistence level.
  • Workforce Composition: India’s workforce could benefit greatly from upskilling, particularly with the advent of new technologies and AI.
  • Medium-skilled jobs dominate employment growth, especially in services, whereas manufacturing remains low-skill intensive.

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    Global Value Chain Development Report 2025

    Context

  • The Global Value Chain Development Report 2025 has been released by the World Trade Organization (WTO).

    • What is the Global Value Chain (GVC)?

  • A Global Value Chain (GVC) refers to the full range of activities involved in producing a good or service, when these activities are spread across multiple countries. 
  • These activities include: Design & R&D, Sourcing of raw materials, Production and assembly, Logistics and distribution, Marketing, sales & after-sales services.
  • Each stage adds value, and different countries participate in different stages based on their comparative advantage.

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    India’s New GDP Series: Fixing Discrepancies, Updating Measurement

    Context

  • The Ministry of Statistics and Programme Implementation (MoSPI) has released a discussion paper outlining major methodological changes in India’s GDP estimation.

    • About

  • In 2024, MoSPI has set up a 26-member Advisory Committee on National Accounts Statistics to decide the base year for GDP data.
  • Biswanath Goldar has been appointed as its chairman.
  • For GDP, the new series is scheduled to be released on February 27, 2026 with financial year 2022-23 as base year.

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    Upgrading India’s Biosecurity in the Age of Biotechnology

    Context

  • Rapid advances in biotechnology have increased the risk of deliberate misuse of biological agents by state and non-state actors, making the strengthening of India’s biosecurity framework a critical national security priority.

    • What is Biosecurity?

  • Biosecurity refers to the set of policies, practices, and institutional systems designed to prevent the intentional misuse of biological agents, toxins, or biotechnologies.
  • It covers safeguarding laboratories handling dangerous pathogens, preventing unauthorised access to biological materials, and detecting and responding to deliberate disease outbreaks.
  • Biosecurity extends beyond human health to include animal and plant health.

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