New GDP Series Upgrades FY26 Growth to 7.6%

The Government released Second Advance Estimates of GDP based on the new national accounts series. India’s GDP growth for FY 2025–26 is now estimated at 7.6%, higher than earlier projections.

Key Highlights:

• FY 2025–26 GDP growth revised to 7.6%.
• Earlier First Advance Estimate (January): 7.4% (based on old series).
• New GDP series includes:
  • Updated base year: 2022–23 (earlier 2011–12).
  • Improved methodologies.
  • Additional data sources for better accuracy and granularity.

Revisions to Previous Years

• FY 2023–24 growth revised down:
  • From 9.2% (old series) → 7.2% (new series)
• FY 2024–25 growth revised up:
  • From 6.5% → 7.1%

Nominal GDP Impact

• Nominal GDP (size of the economy) revised downward for 2023–26.
• This may worsen key fiscal indicators such as:
  • Fiscal deficit-to-GDP ratio
  • Debt-to-GDP ratio