Overview
- The Ministry of Statistics and Programme Implementation published Q1 FY2026–27 estimates showing real GDP growth of 7.8%, a figure the government released after rebasing its series and updating data sources.
- On August 31 the ministry also cut the prior‑period current‑price GDP for April–June 2025 from about Rs 86.1 lakh crore to roughly Rs 80 lakh crore, a downward revision of roughly Rs 6 lakh crore that materially changes year‑on‑year comparisons.
- The IMF’s communications director said the Q1 outturn exceeded staff expectations, credited stronger services activity and exports for the surprise, and welcomed the inclusion of a revised Index of Industrial Production and a new Producer Price Index.
- Critics including former finance officials and opposition leaders argue the large downward revision inflates the headline growth rate and have pressed the government to publish full methodological details and source data to restore credibility.
- Analysts warn that higher global energy prices tied to Strait of Hormuz disruptions pose near‑term risks to the recovery and that the IMF will factor the new data and energy pressures into its updated forecasts in October.