National Statistics Office (NSO) Announces 7.8% GDP Growth for India in Q1 FY27

Key facts

• The National Statistics Office (NSO) estimated India's real GDP growth at 7.8% in Q1 FY27, with real GDP at Rs 81.36 lakh crore against Rs 75.46 lakh crore in Q1 FY26.
• The Reserve Bank of India (RBI) had projected Q1 FY27 real GDP growth at 7%, while median estimates from Moneycontrol and Reuters polls were 7.3% and 7.1%, respectively.
• India's nominal GDP grew 10.3% to Rs 88.27 lakh crore in Q1 FY27 from Rs 80.00 lakh crore in Q1 FY26.
• Real GVA grew 8.2% in Q1 FY27, against 7% in the corresponding quarter of the previous year.
• Nominal GVA grew 11.5% to Rs 80.53 lakh crore in Q1 FY27 from Rs 72.24 lakh crore a year earlier.
• The services sector was the fastest-growing segment, expanding 10% in Q1 FY27, compared with 8% in Q1 FY26.
• Within services, financial, real estate and professional services recorded the strongest growth at 12.1%.
• Manufacturing grew 9.2%, construction activity expanded 7.7%, and agriculture, forestry and fishing recorded 3.6% growth in Q1 FY27.
• Private Final Consumption Expenditure (PFCE) and Government Final Consumption Expenditure (GFCE) expanded by over 9.9% and 9.5%, respectively, in Q1 FY27.
• Gross Fixed Capital Formation (GFCF) jumped 20.4% during April-June 2026.