India Posts Stronger-than-expected 7.8% GDP Growth after Data Series Revamp

GDP

INDIA: India’s economy expanded by a stronger-than-expected 7.8% in the quarter ending December, surpassing the 7.2% growth forecast in a Reuters survey of economists. 

The latest figures follow a revision in the methodology used to calculate economic output, aimed at enhancing accuracy. Under the updated series, the previous quarter’s GDP growth has been revised upward from 8.2% to 8.4%. 

The government has also increased its GDP growth projection for financial year 2026 to 7.6%, up from the earlier estimate of 7.4%. In January, the Ministry of Statistics and Programme Implementation (MoSPI) announced revisions to the GDP series, along with updates to inflation and industrial production data, to improve data quality, credibility, and policy relevance. 

As part of the overhaul, the base year for calculating gross domestic product will be shifted from 2012 to financial year 2023.

Source: MoSPI