New Delhi, Feb 27 (.) India’s Real Gross Domestic Product (GDP) has been estimated to grow by 7.6per cent in FY2025-26 under the new revised base year 2022-23, said the Ministry of Statistics and Programme Implementation (MoSPI) in a statement released here on Friday.
“The growth in Real GDP is estimated during FY2025-26 at 7.6 per cent as compared to 7.1 per cent in FY2024-25 and Nominal GDP is estimated to attain a level of Rs 345.47 lakh crore in the year FY2025-26 against Rs 318.07 lakh crore in 2024-25, showing a growth rate of 8.6 per cent,” it said.
Real Gross Value Added (GVA) registered a growth rate of 7.7 per cent in FY 2025-26 against 7.3 per cent of the corresponding period last year (CPLY). Plus, nominal GVA is estimated to attain a level of Rs 313.61 lakh crore during FY 2025-26 against Rs 288.54 lakh crore in 2024-25 which shows a growth rate of 8.7 per cent.
Highlighting the quarterly estimate, the MoSPI data said that Real GDP growth in Q3FY2025-26 was 7.8 per cent. On the other hand, India’s Nominal GDP (at current prices) in the third quarter (Q3) of FY 2025-26 was estimated at Rs 90.91 lakh crore, compared to Rs 83.46 lakh crore in the same quarter of FY 2024-25. This reflects a growth of 8.9 per cent year-on-year.
The Real Gross Value Added (GVA) for Q3FY2025-26 was estimated at Rs 77.38 lakh crore, up from Rs 71.77 lakh crore in Q3FY 2024-25, registering a growth of 7.8 per cent.
Meanwhile, Nominal GVA in Q3FY2025-26 stands at Rs 82.58 lakh crore, compared to Rs 76.35 lakh crore in the same period last year, marking a growth of 8.2 per cent.
The new series (2022-23) replaces the earlier base year of 2011–12 and aligns India’s national accounts framework with international best practices.
The base year revision is a periodic exercise undertaken to reflect changes in the structure of the economy.
Unlike regular annual revisions, which are limited to updating estimates based on fresh data without altering the conceptual framework or introducing new data sources, a base year revision involves wider and more comprehensive changes.
According to the Ministry, the revision aims to better capture structural shifts in the economy that have taken place over the years. It also incorporates the latest available data sources to ensure more robust and reliable estimates.
The new series further improves estimation methodologies and enhances the overall coverage and accuracy of economic data. By updating the base year, the government seeks to present a clearer and more realistic picture of India’s economic performance in line with evolving economic dynamics.
Such revisions are crucial for policymakers, analysts, and stakeholders, as they provide a more accurate benchmark for measuring growth and sectoral performance over time. . SAS KK