1.

Base Year of Indian GDP revised from 2004-05 to 2011-12

One 30th Jan Central Statistical Office revised base year from 2004-05 to 201112, due to changes in production pattern, consumption pattern and technological
innovations, Some factors were difficult to measure so account for these changes
rebasing the year was needed. It also brings up some change in methods of
evaluation, approaches to account economic activities, introduced new concepts
and incorporation of new classifications.
Earlier GDP at factor cost was the GDP of India, now its been changed to the GDP
at Market which will account taxes and subsidies along with GDP at factor cost.
GDP at factor accounts cost of land, labour, capital and raw materials.

GDP at Market =

GDP at Factor + Indirect taxes Subsidies

2. Earlier Gross Value Added was accounted at cost to evaluate the GDP, now
Gross Value Added at basic price will be taken to evaluate the GDP.

GVA at basic prices = CE + OS/MI + CFC + production taxes less production

subsidies GVA at factor cost = GVA at basic prices - production taxes less
production subsidies GDP = GVA at basic prices + product taxes - product
subsidies.
CE- compensation of employees
OS: operating surplus
MI: mixed income
CFC: consumption of fixed capital
3. Information from the database of stock brokers, stock exchanges, asset
management companies, mutual funds and pension funds, and the regulatory
bodies including the Securities and Exchange Board of India (SEBI), Pension Fund
Regulatory and Development Authority (PFRDA) and Insurance Regulatory and
Development Authority (IRDA).
4. Earlier, estimates for local bodies and autonomous institutions were prepared
on the basis of information received for seven autonomous institutions and local
bodies of four States Delhi, Himachal Pradesh, Meghalaya and Uttar Pradesh. In
the new series, there has been an improved coverage of local bodies and
autonomous institutions, covering around 60% of the grants/transfers provided
to these institutions.

http://www.arthapedia.in/index.php?
title=GDP_/_National_Accounts_Revised_Series_with_2011-12_as_base_year
https://www.youtube.com/watch?v=oGhW5Ha15OE