India's Economy Records 7.6% Growth in FY26 Under New GDP Series

India's Economy Revised Growth Estimate Released

FY26 GDP growth is estimated at 7.6 percent, a 0.2 percentage point increase from the previous estimate of 7.4 percent under the 2011-12 base series. The revised growth estimate was released on February 27 under the new 2022-23 base year in the revised national accounts series.

The new series incorporates methodological improvements and wider economic coverage, resulting in upward revisions to growth estimates for earlier years. The FY25 growth was revised to 7.1 percent from 6.5 percent earlier, while FY24 growth stood at 7.2 percent compared with 9.2 percent in the previous series.

Quarterly data indicate steady momentum through the fiscal year. The economy expanded 7.8 percent in the third quarter, compared with 8.4 percent in the second quarter and 6.7 percent in the first quarter. The growth for the first half of the year has also been revised, with Q1 growth now estimated at 6.7 percent and Q2 at 8.4 percent, compared with earlier estimates of 7.8 percent and 8.2 percent respectively.

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The revised GDP framework incorporates a broader database of companies, significantly expanding the universe of covered business units. The methodology also adopts improved estimation techniques, including double deflation and refined extrapolation methods, aimed at better capturing real economic activity across sectors. The rebasing exercise is expected to improve comparability with current economic structures by reflecting changes in consumption patterns, production dynamics, and the growing role of formal sector enterprises in India's economy.