Economy grew by 7.8% in third quarter as per new GDP series: Govt. data
GS3Economy · S&T · Environment · Security· Growth, inflation & macro indicators· Prelims·
Why in news
The Ministry of Statistics and Programme Implementation (MoSPI) released the New Series of Annual and Quarterly National Accounts Estimates with 2022-23 as the base year.
Background
India's economy grew by 7.8% in the October-December quarter of 2025-26, exceeding the 7.4% growth recorded in the same quarter of the previous year. The new series replaces the previous series which used 2011-12 as the base year.
Facts for Prelims
- FactGDP growth for the October-December quarter of 2025-26: 7.8%
- FactProjected GDP growth for the current fiscal year: 7.6%
- BodyMinistry of Statistics and Programme Implementation (MoSPI) is the body releasing national accounts estimates
- FactNew base year for national accounts: 2022-23
- FactRevised growth rate for July-September 2025-26: 8.4%
For Mains
Q. Discuss the significance of updating the base year in national accounts and its impact on the accuracy of measuring India's economic growth.
Dimensions to cover in your answer
- Methodological shift: Impact of changing base year on real GDP calculation and inflation indexing
- Data revision: Addressing discrepancies between advance estimates and final national accounts series
Keywords: Gross Domestic Product · Base Year · National Accounts · Economic Growth · MoSPI
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