Archive · 22 Jan 2026
India's GDP Growth and New Series
The National Statistical Office (NSO) has released the advance estimates for India's GDP growth in 2025-26, which is 7.4%.
This is the last estimate based on the current series with 2011-12 as the base.
In February 2026, a new GDP series will be introduced with 2022-23 as the base.
The new series aims to address three key concerns: using Supply Use Tables (SUT) to eliminate discrepancies between sectoral and expenditure-based GDP estimates, improving the measurement of the informal sector's growth, and addressing issues with price deflators.
The informal sector, which is a significant part of the economy, has shown lower growth compared to the formal sector.
The new series will use a hybrid system for GDP estimation, combining real and nominal terms, and will aim to make GDP estimates more accurate and comparable.
NSO released advance estimates for 2025-26 indicating a GDP growth of 7.4%.
The new GDP series with 2022-23 as the base will be introduced in February 2026.
The new series aims to address discrepancies in GDP estimates using Supply Use Tables (SUT).
The informal sector's growth is measured at 9% CAGR (2015-16 to 2023-24), lower than the formal sector's 10.4%.
The new series will use a hybrid system for GDP estimation, combining real and nominal terms.
- Who
- National Statistical Office (NSO)
- What
- Released advance estimates for 2025-26 GDP growth and proposed a new GDP series with 2022-23 as the base
- When
- 2025-26 (current series), February 2026 (new series proposal)
- Where
- India
- Why
- To address discrepancies in GDP estimates and make them more realistic
- GDP Growth (2025-26)
- 7.4%
- Decadal Growth (2015-2026)
- 5.9%
- New GDP Series Base Year
- 2022-23
- Supply Use Tables (SUT) Availability
- Until 2022-23
- Private Final Consumption Expenditure (PFCE) CAGR (2015-16 to 2022-23)
- Lower in revised estimates
- Gross Fixed Capital Formation (GFCF) CAGR (2015-16 to 2022-23)
- Lower in revised estimates
- Informal Sector Share (2023-24)
- 27% of total GDP (excluding agriculture and construction)
- Informal Sector CAGR (2015-16 to 2023-24)
- 9%
- Formal Sector CAGR (2015-16 to 2023-24)
- 10.4%
- Informal Sector Annual Growth (October 2023 to September 2024)
- 5.6%
- Informal Sector Share in Non-Agriculture and Construction GDP
- 21%
- GDP Estimation Method
- Hybrid system (46.5% real terms, 53.5% nominal terms)
- Price Indices Used
- WPI for commodities, CPI for non-commodity segments
Sources
IMF’s 7.3 Per Cent Growth Forecast For India: Strong Headline, Fragile Foundations
Policy Dependence
FDI to India records 73% growth in 2025, says UNCTAD
'Pollution A Bigger Economic Threat Than Tariffs', Former IMF Chief Gita Gopinath Warns India At Davos
Budget 2026: FICCI’s 8% GDP roadmap & the 30% defence surge—India Inc’s presents wishlist to FM
Why India’s war chest is under threat from a silent FDI drain
India’s exports to China grows 37% in first 9 months of 2025-26 as ties warm up
