Ministry of Statistics and Programme Implementation (MoSPI) revises GDP base year to 2022-23 and lifts FY26 growth estimate to 7.6%

Key facts

• India’s Q3 FY26 GDP growth slowed to 7.8% from the preceding quarter’s 8.4%.
• The new GDP series uses 2022-23 as its base year, replacing the earlier 2011-12 series.
• MoSPI’s second advance estimate pegs FY26 GDP growth at 7.6%, up from the first advance estimate of 7.4%.
• Manufacturing posted double-digit growth in FY2023-24 and FY2025-26.
• The ‘Trade, Repair, Hotels, Transport, Communication & Services related to Broadcasting and Storage’ segment grew 10.1% in FY2025-26.
• Private Final Consumption Expenditure (PFCE) and Gross Fixed Capital Formation (GFCF) each rose over 7% in FY2025-26.
• The series adopts double deflation for agriculture and manufacturing to improve real value-added measurement.
• Proportional Denton Benchmarking replaces the pro-rata method for quarterly national accounts to align quarterly and annual estimates.