As per the data that was released by the Ministry of Statistics and Programme Implementation on February 27, 2026, the economy of India (GDP) was growing at a healthy rate of 7.8% during the October to December quarter (Q3) of FY26. The growth is a huge advancement compared to 6.2% growth in the same quarter last year but it is relatively lower as compared to the 8.2% growth in the last quarter.
More recent estimates are calculated on a newly revised GDP series with a new base year of 2022-23 compared to the previous base year of 2011-2012. The revision will be directed to capture better the structural changes in the economy as well as updating sectoral weightages to reflect the current economic realities.
Under the new series, the government has placed an upward revision of its full year FY26 growth outlook to 7.6% as compared to the 7.4% first advance estimate released in January under the previous methodology. The new forecast is in line with the anticipation of various economists who monitor the macroeconomic performance of India.
Government statistics indicated that India fiscal deficit was 9.81 lakh crore up to January 2026. The total expenditure in the first 9 months of FY26 was reported as 36.9 lakh crore and total receipts were reported as 27.1 lakh crore.
The re-calculation of GDP is a part of a wider restructuring of the Indian economic statistics. In the same month, the government also revised the inflation series to more accurately reflect changing consumption habits, and official statistics are now much more representative of dynamics of the fastest-growing major economy in the world.
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