New Delhi: The economic growth projection for the next fiscal is revised upwards by 20 basis points to 7-7.4 per cent following the release of new GDP series, Chief Economic Advisor V Anantha Nageswaran said Friday.
The Economic Survey presented in Parliament in January had projected a growth rate of 6.8-7.2 per cent for fiscal year 2026-27.
Ministry of Statistics and Programme Implementation (MoSPI) is releasing the new series of annual and quarterly National Accounts Estimates with base year 2022-23, which replaces the previous series with base year of 2011-12.
“…we are improving our GDP growth outlook for FY27 from 6.8 to 7.2 previously to 7 to 7.4 per cent under the new series…the economy is more likely to achieve a number closer to 7.4 per cent rather than 7 per cent,” Nageswaran said while addressing a press conference on the release of new series.
He also said that based on current indicators, nominal GDP growth would be close to 11 per cent and the size of the economy would comfortably cross USD 4 trillion-mark.
Nageswaran also asserted that the Indian economy continues to maintain strong growth momentum, supported by broad-based activities.
As per the new series, GDP is likely to grow at 7.6 per cent during 2025-26, up from 7.1 per cent in the previous fiscal.
PTI
