GS3Economy · S&T · Environment · Security·Economy
India's Macroeconomic Indicators for UPSC
32 notes · updated 17 Oct 2026
In the news
- IMF, ADB and World Bank raise India growth forecasts above 7%
The IMF, ADB, and World Bank have raised India's GDP growth forecasts to above 7% for the current and next year, reflecting economic resilience.
- ICRA projects 7% GDP growth for India in FY27 despite weak monsoon risks
ICRA projected a 7% GDP growth for India in FY27 while warning that weak monsoons could stress unsecured segments like self-employed borrowers and MSMEs.
- World Bank raises India's FY27 GDP growth forecast to 7.1 per cent
The World Bank raised India's FY27 GDP growth forecast to 7.1 per cent from 6.6 per cent due to robust domestic demand and strong exports.
- India's economy grew nearly 8 per cent but equities struggled to deliver expected returns
Ajay Kumar Yadav of Wise Finserv noted that India's nearly 8% GDP growth in the April-June 2026 quarter did not translate into high equity returns due to valuation issues and future-looking market pricing.
- Shaktikanta Das says Viksit Bharat by 2047 is achievable with 7.9 per cent growth
Shaktikanta Das, Principal Secretary to the Prime Minister, stated at the 5th Kautilya Economic Conclave 2026 that the 'Viksit Bharat' goal by 2047 is achievable through sustained growth.
- Fitch Raises India's GDP Growth Projections To 6.9% For This Fiscal Year
Fitch Ratings raised India's GDP growth forecast for the current fiscal year to 6.9% from 6.4% due to strong June quarter growth and economic resilience.
- Modi's reforms boost India's economy to over $4 trillion, but job creation lags
The article highlights India's economic expansion to a $4.15 trillion nominal GDP by 2026 under 'Modinomics' reforms, while noting persistent challenges in job creation.
- India Could Hit $20 Trillion Economy by 2036, Critics Call Target Overly Optimistic
Equirus brokerage report suggests India could reach a $20 trillion economy by 2036 through sustained reforms, sparking debate on the feasibility of such high growth targets.
- India Ratings & Research (Ind-Ra) projected India's GDP growth to slow
India Ratings & Research (Ind-Ra) projected a slowdown in India's GDP growth to 6.8% for FY27 due to inflationary pressures and external shocks.
- According to the Maddison Project Database 2023, India's GDP per capita fell
The Maddison Project Database 2023 highlights India's long-term GDP per capita trajectory, showcasing the impact of colonial history and post-1990s reforms.
- RBI Governor forecasts 6.6% GDP growth despite weak monsoon, global uncertainties
RBI Governor Sanjay Malhotra projected a 6.6% GDP growth for the current financial year despite monsoon and global headwinds.
- CM Bhupendra Patel unveils Viksit Gujarat 2047 implementation roadmap
Gujarat CM Bhupendra Patel unveiled the 'Viksit Gujarat @2047' roadmap to outline a 20-year strategy for state development and economic growth.
- Govt. to appoint agency to develop Amaravati Economic Region Plan in line with Vision 2047
The APCRDA invited global consulting firms to develop a comprehensive economic blueprint for the Amaravati Economic Region to align with the 'Viksit Bharat 2047' vision.
- RBI Monthly Bulletin: Monsoon shortfall could weigh on growth, inflation outlook
The RBI issued a cautionary note on the potential impact of a monsoon shortfall on India's GDP growth and inflation trajectory for the 2026-27 period.
- World Bank Raises India's FY27 Growth Forecast to 6.6%
The World Bank revised India's economic growth projections for FY27-FY29, citing GST reductions and domestic demand as primary drivers.
- India defies West Asia war concerns as Q4 GDP growth hits 7.8%; risks remain ahead
The Reserve Bank of India (RBI) revised its FY27 growth forecast downward to 6.6% due to geopolitical tensions in West Asia and monsoon weakness, despite a higher-than-expected 8% GDP growth in Q4.
- India can regain 7% growth by FY28: Chief Economic Advisor V Anantha Nageswaran
Chief Economic Advisor V Anantha Nageswaran projected India's GDP growth at 7% by FY28, while the RBI lowered its FY27 forecast to 6.6% due to global disruptions.
- India economy FY27 growth
Chief Economic Adviser V Anantha Nageswaran revised India's FY27 growth forecast downwards due to West Asia conflict-driven oil price surges and supply chain disruptions.
- Macro buffers to help India tide over Gulf crisis: World Bank
The World Bank projected India's economic growth to average 7.1% in FY28-29, citing strong macroeconomic buffers as a shield against Middle East conflict-related risks.
- West Asia conflict poses downside risk, India GDP growth seen at 7.1 pc in FY27: Crisil Intelligence
Crisil Intelligence projected India's real GDP growth to moderate to 7.1% in FY27, citing robust private consumption and export momentum despite West Asia conflict risks.
- Strong growth and subdued inflation keep India in sweet spot: Aurodeep Nandi
Nomura predicted India's GDP growth to be 7.5% in FY26 and 7.1% in FY27 with inflation around 4% due to easing trade disruptions and sustained capital expenditure.
- IMF Managing Director Kristalina Georgieva stated that AI can accelerate India's 'Viksit Bharat' goal but warned of significant risks like job displacement and financial instability
IMF Managing Director Kristalina Georgieva stated that AI can accelerate India's 'Viksit Bharat' goal but warned of significant risks like job displacement and financial instability.
- Govt plans ‘Champion CPSEs’ for Viksit Bharat by 2047, NITI Aayog roadmap soon
NITI Aayog and the Finance Ministry are collaborating to develop a roadmap to bolster the financial, technological
- Telangana vision document in line with the Viksit Bharat goal of India: Governor
Telangana Governor Jishni Dev Varma outlined the 'Telangana Rising – Vision 2047' plan to align the state's economic goals with the national Viksit Bharat initiative.
- How India's economy defied odds in 2025 — but external shocks left a mark
India achieved an 8.2% GDP growth rate in Q2 of FY2025 despite external shocks like currency volatility and intensified US tariffs.
- Nirmala stresses on AI, regulatory predictability for Viksit Bharat
Union Minister Nirmala Sitharaman outlined a roadmap for 'Viksit Bharat' emphasizing AI integration and regulatory predictability to enhance ease of doing business.
- Indian economy grows 8.2% in Q2 2025-26
The National Statistics Office (NSO) reported that India's real GDP grew by 8.2% in the July-September quarter of FY 2025-26, surpassing the previous year's growth rate.
The newest 27 notes are shown.
Key facts
- Figure: Average GDP growth between 2021 and 2025: 7.83% (second-highest five-year average since 1960) note →
- Concept: Inflation — Crisil projected 5.1% inflation for FY27 note →
- Concept: Growth drivers — investment, private consumption, domestic demand, and strong exports note →
- Concept: Monsoon Risks — Weak monsoons may stress unsecured segments like MSMEs and self-employed borrowers note →
- Figure: More than 10% — Expected rise in private investment note →
- Figure: Nominal GDP — Projected to reach $4.15 trillion by 2026 note →
Practice · 5 questions
What was the average GDP growth rate for India between 2021 and 2025?
- (a)7.83%
- (b)9.25%
- (c)8.12%
- (d)6.50%
Answer
(a) 7.83% — The note states the average GDP growth between 2021 and 2025 was 7.83%. Note →
With reference to India's economic projections for FY27, consider the following statements:
- ICRA projected a GDP growth rate of 7% for the fiscal year.
- Private investment has improved in the sectors of semiconductors and data centres.
- Crisil projected an inflation rate of 6.1% for FY27.
Which of the statements given above is/are correct?
- (a)3 only
- (b)1 and 2 only
- (c)2 and 3 only
- (d)1, 2 and 3
Answer
(b) 1 and 2 only — Statements 1 and 2 are correct. Statement 3 is incorrect: Crisil projected 5.1% inflation for FY27. Note →
With reference to India's GDP growth projections, consider the following statements:
- India's FY26 GDP growth was recorded at 6.6 per cent.
- The Asian Development Bank, OECD, S&P, and Fitch also raised India's growth projections to around 7 per cent.
- The World Bank raised India's FY27 GDP growth forecast to 7.1 per cent.
Which of the statements given above is/are correct?
- (a)1 only
- (b)2 only
- (c)1 and 3 only
- (d)2 and 3 only
Answer
(d) 2 and 3 only — Statements 2 and 3 are correct. Statement 1 is incorrect: India's FY26 GDP growth reached 7.8 per cent. Note →
With reference to India's economic growth data, consider the following statements:
- The growth of infrastructure goods in Q1 of FY27 was 9.3 per cent.
- The World Bank upgraded India's FY27 GDP growth forecast to 7.1 per cent.
- India's GDP growth reached 7.8 per cent in FY26.
Which of the statements given above is/are correct?
- (a)2 only
- (b)3 only
- (c)1 and 3 only
- (d)2 and 3 only
Answer
(d) 2 and 3 only — Statements 2 and 3 are correct. Statement 1 is incorrect: Infrastructure goods grew at 7.2 per cent; electricity expanded by 9.3 per cent. Note →
With reference to India's economic performance and equity markets, consider the following statements:
- Global bond yields and crude oil prices are factors influencing market performance.
- India's economy grew at nearly 8 per cent in the April-June 2026 quarter.
- Stock markets price current GDP growth rather than future earnings.
Which of the statements given above is/are correct?
- (a)1 only
- (b)1 and 2 only
- (c)1 and 3 only
- (d)1, 2 and 3
Answer
(b) 1 and 2 only — Statements 1 and 2 are correct. Statement 3 is incorrect: Stock markets price future earnings rather than current GDP. Note →
More Economy topics
Capital Markets and Regulation · Parliamentary Budgetary Process · India's Energy Security