India to update national accounts base year to 2022–23; new data effective from February 26–27, says Nirmala Sitharaman

India is updating its economic data framework. The base year for national accounts will change from 2011-12 to 2022-23. This revision will happen next year. The move aims to better reflect the current economy. It addresses concerns raised by an international report. The new base year will provide more relevant economic statistics for the nation.