India projects 7.6% GDP growth for FY26, nominal growth at 8.6%

India’s real GDP is projected to grow at 7.6 per cent in the current financial year 2025–26, according to estimates released by the Ministry of Statistics and Programme Implementation (MoSPI). Nominal GDP growth, which accounts for inflation, is expected to expand by 8.6 per cent.

Growth Momentum Continues

The Indian economy has shown steady performance in recent years:

• 2023–24: Real GDP growth – 7.2% | Nominal GDP – 11.0%
• 2024–25: Real GDP growth – 7.1% | Nominal GDP – 9.7%

Earlier, official data recorded growth of 8.7% in 2021–22 and 7.2% in 2022–23, indicating consistent economic momentum.

New Base Year for National Accounts

MoSPI has introduced a new series of Annual and Quarterly National Accounts Estimates with 2022–23 as the base year, replacing the earlier 2011–12 base year. The year 2022–23 was chosen as it represents a relatively normal post-pandemic year with comprehensive sectoral data.

The ministry is also revising base years for other macroeconomic indicators such as:

• Consumer Price Index (CPI)
• Index of Industrial Production (IIP)

IMF Rating on National Accounts Methodology

In late 2025, the International Monetary Fund (IMF) assigned India a ‘C’ rating on national accounts methodology, highlighting the need for updated base-year data—one of the factors prompting the revision.