India's GDP Series Reset: Q3FY26 Growth At 7.8% - Key Details

India resets its GDP base year today to 2022-23 under the new gross domestic product series, which observed the Q3FY26 GDP at 7.8%

On account of the previous base year being altered from 2011-12, the real GDP has been estimated to grow by 7.6% in FY 2025-26, meanwhile, nominal GDP recoded a growth of 8.6%

The real GDP at constant prices in Q3 of FY 2025-26 is estimated at Rs 84.54 lakh crore, against Rs 78.41 lakh crore in Q3 of FY 2024-25, showing a growth rate of 7.8%.

On other side, the nominal GDP at current prices in Q3 of FY 2025-26 is estimated at Rs 90.91 lakh crore, against Rs 83.46 lakh crore in Q3 of FY 2024-25, showing a growth rate of 8.9%.

The Real GVA in Q3 of FY 2025-26 is estimated at Rs 77.38 lakh crore, against Rs 71.77 lakh crore in Q3 of FY 2024-25, showing a growth rate of 7.8%. Nominal GVA in Q3 of FY 2025-26 is estimated at Rs 82.58 lakh crore, against Rs 76.35 lakh crore in Q3 of FY 2024-25, showing a growth rate of 8.2%.

The Financial Year (FY) 2022–23 has been selected as base year, as it represents a recent normal year (after COVID), with availability of robust and comprehensive data across sectors of the economy, making it an appropriate benchmark for the new series of Annual and Quarterly National Accounts Estimates.

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Key Highlights Under The New GDP Series

The new growth rates are revised upward from their respective First Advance Estimates computed using previous Base Year (2011-12).

Overall Economic performance in FY 2025-26 is primarily on account of robust Real growth observed in Second Quarter (8.4%) and Third Quarter (7.8%).

The economy has exhibited sustained performance, recording Real GDP growth rates of 7.2% and 7.1% respectively during FY 2023-24 and FY 2024-25. It has also indicated sustained performance, recording Real GDP growth rates of 7.2% and 7.1% respectively during FY 2023-24 and FY 2024-25.

Meanwhile, the nominal GDP has registered 11.0% and 9.7% growth rates during FY 2023-24 and FY 2024-25 respectively.

On the other hand, trade, repair, hotels, transport, communication & services related to Broadcasting, Storage' sector has attained a growth rate of 10.1% at Constant Prices in FY 2025-26.

In the Consumption side, both the Private Final Consumption Expenditure (PFCE) and Gross Fixed Capital Formation (GFCF) have exhibited more than 7.0% growth rate in FY 2025-26.

The estimates of Quarterly GDP majorly follow the guidelines, standards as mentioned in Quarterly National Accounts Manual of International Monetary Fund (IMF), 2017.