Base-year revision to facilitate calibrated policies: RBI Governor Malhotra
Mumbai, Jan 16, 2026
RBI Governor Sanjay Malhotra says base year revision of GDP, CPI and IIP will enable more calibrated policymaking, improve inflation targeting and better reflect India's evolving economy
Welcoming the new series of macroeconomic indicators, Reserve Bank of India’s (RBI’s) governor Sanjay Malhotra said the base -year revision will facilitate calibrated policies and help in maintaining price stability and improve economic growth.
The ministry of statistics and programme implementation (Mospi) had said that the revised base years for the national accounts, which includes gross domestic product (GDP) and other macro-indicators like consumer price index (CPI), are scheduled to come into effect from February 2026.
“I want to congratulate the Mospi. It is a very timely and a very welcome step by strengthening our statistical system. It will facilitate more calibrated policies, it will help us in sustaining both price stability and improving economic growth,” Malhotra said.
The governor added the exercise is not merely a revision in the base year, but it also covers revisions in methods, weights, item baskets, data sources and competition techniques. He said updating the base year of CPI will ensure that the index reflects the consumption patterns and household spending more accurately as they have obviously changed over a period of time.
RBI issues revised integrated ombudsman scheme
The Reserve Bank of India will establish a Centralised Receipt and Processing Centre (CRPC) to conduct initial scrutiny of complaints received through electronic mode (E-mail) and physical form to assess their admissibility under the provisions of the Scheme, the central bank said while releasing the revised norms on Integrated Ombudsman Scheme. The Scheme into force from July 1, 2026. Complaints filed online will be registered on the RBI’s Complaint Management System portal, while those received through email or post will be processed centrally by the CRPC.
[The Business Standard]
