- Why in news
- On 15 May 2026, MoSPI's National Statistics Office released the Supply and Use Tables for 2022-23 and 2023-24, the first compiled on the new 2022-23 base year.
- What it is
- Supply and Use Tables (SUTs) are two linked product-by-industry matrices in the national accounts. The Supply Table shows the supply of each product from domestic output and imports. The Use Table shows how each product is used: as inputs, in final consumption, in capital formation and in exports. They bring the production, income and expenditure approaches to GDP into one consistent frame.
- Base year
- These are the first SUTs compiled on the revised 2022-23 base year, which replaced the 2011-12 series.
- Product identity
- Total supply of each product (domestic production plus imports) must equal its total use (intermediate consumption plus all final uses). This makes the three GDP approaches consistent.
- Valuation
- The Supply Table moves from basic prices to purchasers' prices by adding trade and transport margins and net product taxes.
- Statistical discrepancy
- Annual estimates are integrated with the SUT framework, so final current-price estimates carry no statistical discrepancy between the production/income and expenditure estimates.
- Sector shares
- Services made up about 51-52% of total supply at basic prices, manufactured goods 35-36%, agriculture 11% and mining 2%.
Don’t confuse with Basic prices vs purchasers' prices: Basic prices are what producers receive for output. Purchasers' prices are what buyers pay, after adding trade and transport margins and net product taxes.
Don’t confuse with GVA vs GVO: Gross Value of Output is total output. GVA is output minus intermediate consumption. A low GVA-to-GVO ratio means material-heavy production.
Economy terms and data: 42 Prelims questions since 2013, rising in recent years; they test what a term or instrument means. In Mains, 12 news-triggered questions.
Why it matters
- SUTs give a consistent product-industry picture of the economy, which supports industrial, trade and investment policy.
- Removing the statistical discrepancy improves the credibility and international comparability of GDP estimates.
Problems
- Compilation needs many survey and administrative datasets, so quality depends on data gaps and on balancing assumptions.
Way forward
- Keep improving the timeliness and granularity of the data, and widen the use of administrative sources.
Put in your answer
Total supply: Total supply at purchasers' prices was ₹627.18 lakh crore in 2022-23 and ₹669.88 lakh crore in 2023-24.
Intermediate consumption: Goods were 72-73% of intermediate consumption and services 27-28% in both years, showing a material-intensive production base.
UPSC’s own questions that come close to this issue, from our Prelims and Mains banks.
No practice question for this one; the card may still help an answer. Why: First SUTs under the 2022-23 base year. Economy terms make up 13% of news-linked Prelims questions, but this is a niche data release, so a card without a question.
Worth revising until Prelims 2027: most news questions come within two years of the event.