February 27, New Delhi – India's Ministry of Statistics and Programme Implementation has released a new series of Annual and Quarterly National Accounts Estimates, with a base year of 2022–23, replacing the previous 2011–12 series.
The announcement was made at a press conference in New Delhi on Friday, outlining the major changes in the revised Gross Domestic Product (GDP) estimates.
Statistics and Programme Implementation Secretary, Saurabh Garg, stated that the revision aligns with international best practices and reflects the structural transformation of the economy over the past decade.
The Secretary said that GDP is expected to grow at 7.6% in 2025–26, according to the new series.
According to the new GDP series with a base year of 2022–23, India's economy is projected to maintain strong momentum in Q3 of FY 2025–26. Real GDP at constant prices is estimated at Rs. 84.54 lakh crore, reflecting a year-on-year growth of 7.8% compared to Rs 78.41 lakh crore in Q3 of FY 2024–25.
At current prices, nominal GDP is projected to reach Rs 90.91 lakh crore, marking an 8.9% increase from Rs 83.46 lakh crore in the same quarter of the previous year. Similarly, Real Gross Value Added (GVA) is expected to rise to Rs. 77.38 lakh crore, showing a 7.8% growth, while nominal GVA is projected at Rs 82.58 lakh crore, up 8.2% from last year’s Rs 76.35 lakh crore.
Byte 1: Saurabh Garg, Secretary, Ministry of Statistics & Programme Implementation, India
Byte 2: V. Anantha Nageswaran, Chief Economic Advisor, India