New Delhi: The government on Thursday told Parliament that the Advisory Committee on National Accounts Statistics (ACNAS) has recommended to the ministry of statistics and programme implementation to consider 2020-21 as the next base year of National Accounts in view of the structural reforms in the economy “The issue of the base year revision was discussed by ACNAS again in its recent meeting held on 30 October, 2019 and it was recommended to the Ministry to consider 2020-21 as the next base year of National Accounts in view of the structural reforms in the economy,” said Rao Inderjit Singh, Minister of State (Independent Charge) for MoSPI in a written reply to a question on Revision of base year for GDP calculations in Rajya Sabha . The present base year for gross domestic product is 2011-12.The exercise of base year revision of national accounts is guided by the ACNAS comprising experts from the central and state government, academia, the Reserve Bank of India (RBI) and other domain specific experts.While selecting a new base year, several activities, including new surveys, are to be planned and carried out to have the latest data for use in the revised base year.“The ACNAS had earlier recommended to revise the base year of National Accounts from 2011-12 to 2017-18 in view of the likely availability of requisite data,” Singh said.The ministry had on November 15 said the committee had recommended that for rebasing of the GDP series, 2017-18 is not an appropriate year to be used as the new base year.As per the United Nations System of National Accounts (UN SNA)-2008, the member countries are required to revise the base year of their macro-economic indicators like GDP, Gross Value Added Index of Industrial Production, and Consumer Price Index In a separate reply, the minister said the government has decided to create a Statistical Business Register by utilizing the data collected through 7th Economic Census. The Statistical Business Register will contain information pertaining to key economic activities of the establishments.