The National Statistical Office (NSO) has changed the date of release of annual and March quarter GDP data from the last working day of May to June 7. According to a statement from the Ministry of Statistics and Program Implementation (MoSPI), if June 7 is a holiday, the data will be released on the previous working day. As a result, GDP data for FY 2025-26 and March quarter will be released on June 5.
This change has been made after due consultation with the Advisory Committee for National Accounts Statistics (ACNAS), with the aim of further improving the quality of the data. The special thing is that on the same day the MPC of the country’s banking regulator RBI will also announce its policy. This means that the date of June 5 is going to be very important in many matters.
Why was the date increased?
The statement said that the National Statistical Office (NSO)… has changed the date of release of provisional estimates of annual gross domestic product (GDP) and quarterly estimates of GDP for the fourth quarter (Q4) from the last working day of May to June 7 (or the previous working day if June 7 is a holiday) every year. The need to change the release date has arisen because some important datasets become available only after a delay of up to two months.
This is also a big reason
Typically, the legal deadline for listed companies to file fourth quarter (Q4) and annual audited financial results is 60 days after the financial year end. Due to this, a large number of companies submit their financial statements close to the May 31 deadline. Moreover, with respect to the Central Government accounts, key fiscal data relating to revenue expenditure, capex, taxes, subsidies and interest payments for the month of March are finalized and available only after a delay of two months. This change is part of the Ministry’s continuing efforts to improve the quality, coverage and robustness of the data used in preparing national accounts, and is also in line with existing international best practices.
