New GDP series (base 2022-23): FY26 growth estimated at 7.6%
Next story · 27 FebCentre has spent 74.3% of RE by January 2026
What happened
- MoSPI’s new national accounts series uses 2022-23 as base. Real GDP growth for FY 2025-26 is estimated at 7.6%, against 7.1% in FY 2024-25; nominal growth is 8.6% [PIB].
- Manufacturing posted double-digit growth in FY 2023-24 [PIB].
Background
- The base moved from 2011-12. New data sources such as GST returns and updated methods were brought in.
Why it matters
- A fresh base changes levels, ratios like debt-to-GDP and tax buoyancy. Expect Mains questions on data credibility.
How to use this in Mains
- As per PIB (2026-02-27): moSPI's new national accounts series uses 2022-23 as base. Real GDP growth for FY 2025-26 is estimated at 7.6%, against 7.1% in FY 2024-25; nominal growth is 8.6%.
- A fresh base changes levels, ratios like debt-to-GDP and tax buoyancy. Expect Mains questions on data credibility.
Quotable data pointManufacturing posted double-digit growth in FY 2023-24.
PIB: PIB Backgrounder: Revised GDP estimates, 27 Feb 2026
Exam angle
UPSC
Prelims: GDP base year. · Mains: Measuring growth.
Practice MCQs
Original practice questions (not PYQs).
Practice · UPSC
New GDP base year
Answer (b) & explanation
PIB.
Practice · UPSC
Real growth FY26 (est.)
Answer (b) & explanation
PIB.
Practice · UPSC
Nominal growth FY26 (est.)
Answer (b) & explanation
PIB.
Go deeper
Official source: PIB: PIB Backgrounder: Revised GDP estimates, 27 Feb 2026
facts from cited sources only; faculty review pending