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The new series for industrial production and wholesale prices suggest that the GDP numbers for the financial year 2016-17 could be revised up from 6.7 per cent to 7.4 per cent. The Central Statistical Office (CSO) revised India's wholesale price index (WPI) and industrial production (IP) series last week, changing the base year to 2011-12 (from 2004-05).
Estimated that GVA growth will be revised up to 8.2 per cent (from 7.8 per cent) for 2015-16 and to 7.4 per cent (from 6.7 per cent) for 2016-17."
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