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Meeting No: 2513 856 8416
Password: economics

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Abstract

In economics, a base year is a fixed benchmark used to compare financial data over time by neutralizing external factors like inflation. Assigned a standard index value of 100, it enables the calculation of Real GDP and price indices by holding prices constant, thereby isolating actual growth in production from mere price increases. As of 2026, major revisions are underway to ensure data accuracy; notably, India is shifting its GDP and IIP base years to 2022–23 and the CPI to 2024. The discussion will highlight the importance periodic updates reflect modern consumption patterns, technological advancements, and new economic sectors.

bout the Speakers

Dr TCA Anant

Dr TCA Anant is an Adjunct Professor at the School of Public Policy and Governance, Tata Institute of Social Sciences, Hyderabad, off-campus. Dr Anant superannuated as a member of the Union Public Service Commission in 2023. Before this, he was a Professor and Head of the Department of Economics at the Delhi School of Economics (DSE), University of Delhi. He has also served as the Chief Statistician of India (CSI) and Secretary, Ministry of Statistics and Program Implementation from 2010 to 2018, and as Member Secretary, Indian Council for Social Science Research (ICSSR) from 2006 to 2009. As Member Secretary, ICSSR, Prof. Anant was instrumental in getting undertaken the fourth review of ICSSR. He also steered the research efforts of ICSSR in doing the first baseline survey of Minority Concentration Districts. Prof Anant has served on Expert Committees of various Ministries and Agencies of the Government of India, the Reserve Bank of India, the Competition Commission of India, Councils and Boards of several Universities as well as international organizations.

Prof. Anant received his PhD in Economics from Cornell University and his MA in Economics from DSE. He was Assistant Professor in Economics at Michigan State University, USA, and Reader and then Professor in DSE, where he started the course on Law and Economics in the MA program. His research has covered a wide range of areas, including Labor Economics, Industrial Economics, Law and Economics and Econometrics.

Dr. Saurabh Garg

Dr. Saurabh Garg is a 1991-batch IAS officer of the Odisha Cadre currently serving as the Secretary of the Ministry of Statistics and Programme Implementation (MoSPI). A distinguished administrator, he has held pivotal leadership roles including CEO of UIDAI, where he strengthened the Aadhaar ecosystem, and Secretary of the Ministry of Social Justice and Empowerment. Throughout his career, Dr. Garg has been instrumental in shaping India’s digital and financial landscape by leading the development of the Direct Benefits Transfer (DBT) program, the National Investment and Infrastructure Fund (NIIF), and frameworks for digital payments and FDI policy. His extensive experience spans international advisory at the World Bank, state-level innovation in agricultural technology in Odisha, and early career roots in the Tata Administrative Service. He holds a Ph.D. in International Economics and Development from Johns Hopkins University, an MBA from IIM Ahmedabad, where he was a gold medalist, and a B.Tech from IIT Delhi, and he was also a Chevening Gurukul scholar at the London School of Economics.