India’s GDP growth slips to 7.8% in Oct-Dec, amid data revampc
- Government expects the South Asian economy to have grown by 7.6%,
NEW DELHI: India’s economy grew 7.8% in October-December from the same period a year earlier, after posting 8.4% growth in the previous quarter, the government said on Friday, as it unveiled a revised series of national output data.
For the full fiscal year ending in March, the government expects the South Asian economy to have grown by 7.6%, the National Statistics Office said. It had been forecast to grow by 7.4% under the old data series.
At this pace, India would remain the fastest-growing major economy globally.
Prime Minister Narendra Modi’s government has undertaken to revamp economic data, including for inflation and gross domestic product, by expanding the sources of information and updating the base year to 2022-23, among other changes. The adjustments aim to address criticism of outdated data practices and enhance accuracy.
India forecasts 2025/26 economic growth at 7.4%
India’s nominal GDP for 2025/26, which excludes the impact of inflation, is estimated to grow at 8.6%.
While presenting the budget for financial year 2026/27 earlier this month, the government estimated India’s nominal growth rate for the next year at 10% under the old base year.
Comments