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 on Friday.
The Economic Survey presented in Parliament in January had projected a growth rate of 6.8-7.2 per cent for the 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.
Nageswaran reiterated that, based on current indicators, nominal GDP growth would be close to 11 per cent and the size of the economy would comfortably cross the $4 trillion mark.
Addressing a press conference on the release of the new series, the CEA said the economy continued to maintain strong growth, supported by broad-based activity across sectors. He further said that current indicators pointed to steady expansion despite global uncertainties.
The Ministry of Statistics and Programme Implementation (Mospi) on Friday released a new series of annual and quarterly National Accounts Estimates with 2022-23 as the base year, replacing the earlier 2011-12 base year series.
Based on prevailing trends, nominal GDP growth is expected to be close to 11 per cent in FY27, he said, adding that this would comfortably push the size of the economy beyond the $4 trillion mark.
Under the new series, GDP is projected to grow at 7.6 per cent in FY2025-26, compared with 7.1 per cent in the previous financial year.
