Economy, Banking and Finance · 2 September 2026

State Bank of India (SBI) Research raises India's FY27 GDP growth forecast to 7.3%

Exam-focused facts from the 2 September 2026 current affairs briefing.

Key facts

  • State Bank of India (SBI) Research revised India's FY27 real GDP growth forecast to 7.3% from 6.6%.
  • India's real GDP grew 7.8% in Q1 FY27, compared with 6.9% in Q1 FY26.
  • Gross Value Added (GVA) grew 8.2% in Q1 FY27, against 7.0% a year ago.
  • Services sector grew 10% in Q1 FY27, led by financial, real estate and professional services at 12.1%.
  • Manufacturing growth accelerated to 9.2% in Q1 FY27 from 8.3% in Q1 FY26.
  • Private consumption grew 7.1% and capital formation grew 11.9% in Q1 FY27.
  • Exports surged 12% in Q1 FY27.
  • Scheduled commercial banks' credit grew 18.3% for the fortnight ended August 15, 2026, compared with 10.2% a year earlier.
  • SBI Research expects aggregate deposit growth of 14.5-15% and credit growth of 15-16% in FY27.

View this story in the full daily briefing

Earlier coverage selected by topic similarity to help connect developments over time.

State Bank of India (SBI) projects Q1 GDP growth at 8%

State Bank of India (SBI) research projects India's GDP growth at 8% for the April-June quarter of FY27. The SBI projection is sharply higher than the Reserve Bank of India's (RBI) forecast of 7% for the same quarter.