New Delhi, Feb 27 (IANS) India's real GDP growth rate for the October-December quarter (Q3) of the financial year 2025-26 is estimated at 7.8 per cent in the new series with 2022-23 as the base year, data for which was released by the Ministry of Statistics on Friday.
The projected annual GDP growth rate for the full financial year 2025-26 has been pegged at 7.6 per cent compared with 7.1 per cent for 2024-25, according to the advance estimates, which were also released along with the data.
Real GDP is estimated to attain a level of Rs 322.58 lakh crore in the FY26, against the first revised Estimate of GDP for FY25 of Rs 299.89 lakh crore.
The manufacturing sector has been the major driver in contributing to the resilient performance of the economy in three consecutive financial years after rebasing with a double-digit growth in FY 2023-24 and FY 2025-26.
The Indian economy has exhibited steady performance to register real GDP growth rates of 7.2 per cent and 7.1 per cent, respectively, during FY 2023–24 and FY 2024–25.
The revision of the National Accounts’ Base Year to 2022–23, the new series of Quarterly GDP estimates incorporating a revision in estimation methodology, includes new high-frequency indicators and an improved deflation strategy to effectively capture the progress in the economy within respective years. Besides, there has been an improvement in the granularity of estimation, the official statement said.
In the earlier advance estimates release in January, based on the old series, the real GDP growth was projected at 7.4 per cent in FY 2025-26, up from 6.5 per cent during FY 2024-25, according to the advanced estimates.
The buoyant growth in the services sector has been found to be a major driver with a robust growth of 9.9 per cent at constant prices in FY 2025-26 for financial services, real estate, professional services and public administration.
Manufacturing and construction in the secondary sector were estimated to achieve a growth rate of 7 per cent, while the agriculture sector growth rate is estimated at 3.1 per cent.
--IANS
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