NEW DELHI: India’s GDP growth estimate has been raised to 7.6 per cent for the current fiscal from 7.4 per cent after the government revised the calculation methodology, including change in base year and adding data from GST and e-Vahan portal, to better reflect economic activities.
The Ministry of Statistics and Programme Implementation (MoSPI) on Friday released the New Series of Annual and Quarterly National Accounts Estimates with base year 2022-23, which replaces the previous series with a base year of 2011-12. This is the 9th base revision of the GDP series.
According to the new series, the gross domestic product (GDP) in the October-December quarter of 2025-26 grew by 7.8 per cent, up from 7.4 per cent in the year-ago period, mainly driven by the manufacturing and services sectors.
Further, the GDP growth for the second quarter has been revised upwards to 8.4 per cent from 8.2 per cent in the old series (base: 2011-12), while for the first quarter, it has been lowered to 6.7 per cent from 7.8 per cent.
“Real GDP or GDP at Constant Prices is estimated to attain a level of Rs 322.58 lakh crore in the FY 2025-26, against the First Revised Estimate (FRE) of GDP for the year 2024-25 of Rs 299.89 lakh crore. The growth rate in Real GDP during 2025-26 is estimated at 7.6 per cent as compared to 7.1 per cent in 2024-25,” MoSPI said.
The series provides the ‘Second Advance Estimates of Annual GDP for FY 2025-26’ and ‘Quarterly Estimates of GDP from Q1 (April-June) of FY 2022-23 to Q3 (October-December) of FY 202526’. Nominal GDP has witnessed a growth of 8.6 per cent during 2025-26. These growth rates are revised upward from their respective First Advance Estimates computed using previous base year (2011-12), MoSPI said.
It further said that the economy has exhibited sustained performance, recording real GDP growth rates of 7.2 per cent and 7.1 per cent, respectively, during 2023-24 and 2024-25. Nominal GDP has registered 11 per cent and 9.7 per cent growth rates during 2023-24 and 2024-25, respectively.
Further, MoSPI said that in the new series, double deflation will be used in the manufacturing and agriculture industries and single extrapolation elsewhere..