 "India to release GDP data 90 minutes earlier at 4 pm, to align with markets")
The Ministry of Statistics and Programme Implementation (MoSPI) on Friday announced a revised schedule for the release of gross domestic product (GDP) estimates, moving the timing forward by 90 minutes to 4 pm. The adjustment aims to provide timely access to key economic data and align the release with the closure of major financial markets in India.
According to MoSPI’s statement, GDP press releases have traditionally been issued at 5:30 pm on designated release dates. However, the release will now occur earlier, at 4 pm, allowing financial market participants, policymakers, analysts, and the public additional time on the release day to review and assess the data. The updated schedule aims to ensure that the dissemination of GDP information coincides with market closing hours, preventing any disruption during active trading periods.
The ministry highlighted that this timing adjustment reflects its commitment to enhancing the accessibility and transparency of economic data, facilitating timely analysis, and minimising speculative trading risks. By releasing GDP data after market hours, MoSPI aims to create a more stable information environment and reduce the risk of misinformation or volatility caused by incomplete data during trading.
The first GDP data release under the revised schedule is set for November 29, 2024, covering the second quarter (July–September) of the financial year 2024–25 (FY25). The data will be available on both the Press Information Bureau and MoSPI websites.
This change in GDP release timing follows MoSPI’s recent adjustments to the release schedule for other critical economic indicators. Earlier in November, the ministry advanced the release timings for the consumer price index (CPI) and the Index of Industrial Production (IIP) from 5:30 pm to 4 pm.
The Reserve Bank of India (RBI) has projected a 7 per cent real GDP growth rate for the second quarter of FY25. Additionally, the central bank expects 7.4 per cent real GDP growth in the third and fourth quarters of FY25.
These projections are part of the RBI’s overall forecast of 7.2 per cent GDP growth for FY25.