Karandikars & Associates

India Economy Indicators

What is Economy? : Economists say that economics is the study of scarcity. That’s because resources, such as workers, land and raw materials, are limited – while the demand for them is infinite. Basically, we always want more. So the simplest answer is that an economy is a system for distributing scarce resources

Coming down from such a 30,000 feet level definition, a slightly more detailed answer could be:

1. An economy is a system of interrelated production and consumption activities that ultimately determine the allocation of resources within a group
2. The production and consumption of goods and services fulfills the needs of those living and operating within an economy
3. Market-based economies, also called free market economies, are self-regulated, allowing goods to be produced and distributed in response to demand from consumers
4. Command-based economies are regulated by a government body that determines the goods that are produced, their quantities, and their prices
5. In the modern world, only a few economies are either purely market-based or purely command-based

The four most common expressions that are used to describe an Economy are: GDP / Inflation / Employment (read Unemployment) and Inequality, with the first being the most talked about concept

The main economic players, also called Economic Agents, in an Economy are households, businesses, governments, and the foreign sector (some conventions consider Financial Institutions as the fifth player in the economy while some club them along with Government)

Overview of National Accounts Statistics (NAS)

Overview of Base Year

Macro Economic indicators:

We would like our readers to note the chronology of the annual GDP release notes of The National Statistics Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) for various Financial Years:

1. On 16th May 2025, MOSPI released ‘National Accounts Statistics – 2025’ publication, a comprehensive source of data on the national income, production, and expenditure aggregates of the Indian economy. This covers data up to FY 2023-24
   This publication follows the First Revised Estimates (FRE) of GDP for the FY 2023–24 and Final Estimates (FE) for FY 2022-23, which were released in February 2025
2. On 30th May 2025, MOSPI released Provisional Estimates (PE) of GDP for the FY 2024-25
3. On 7th January 2026, released the First Advance Estimates (FAE) of GDP for FY 2025-26

Thus, at the time of launch, detailed data series was available up to FY 2023-24, Provisional Estimates for FY 2024-25 and First Advance Estimates for FY 2025-26

Provisional Estimates of GDP – FY 2024–25

First Advance Estimates of GDP – FY 2025–26

Other Economic indicators:

India Oil Non Oil Trade (US dollar million)
Exports of Major Commodities (US dollar million)
Imports of Major Commodities (US dollar million)
India Invisibles (US dollar million)
BOP Key Components (US dollar million)
Prices of Gold and Silver
Wholesale Price Index Annual
Wholesale Price Index Monthly
Index of Industrial Production Annual
IIP Use Based Annual
Index of Industrial Production Monthly
IIP Use Based Classification Monthly
Index Core Industries Yearly
Index Core Industries Monthly