Latest Updates on New GDP series

Growth across sectors remains balanced, with services projected to grow at 8.6 per cent, the primary sector at 8.4 per cent, and the secondary sector at 7.7 per cent

India is set to release a new GDP series with 2022–23 as the base year. But what exactly is GDP, how is it calculated, and why do revisions matter?

India’s economy expanded 7.8% in the October–December quarter of FY26, according to newly released national accounts data based on a revised GDP series with 2022–23 as the base year.

The fiscal deficit as a percentage of GDP for three financial years till 2024-25 has been revised upwards following the revision in base year for calculation of GDP, the government informed Parliament on Tuesday. As per the new GDP Series published on February 27, the fiscal deficit as a percentage of GDP works out to be 4.9 per cent for 2024-25, 5.7 per cent for 2023-24, and 6.7 per cent for 2022-23, Minister of State for Finance Pankaj Chaudhary said in a written reply in the Rajya Sabha. The fiscal deficit was earlier estimated at 4.8 per cent for FY'25, 5.63 per cent for FY'24 and 6.4 per cent for FY'23. In absolute term, fiscal deficit stood at Rs 15.74 lakh crore in FY'25, Rs 16.55 lakh crore in FY'24 and Rs 17.38 lakh crore in FY'23. On February 27, 2026, the government released the new series of Gross Domestic Product (GDP) estimates with 2022-23 as the base year, replacing the previous series with a base year of 201112. With the new 2022-23 base, the Nominal GDP or GDP at

Some ministries are over 45% short of revised estimates

Maharashtra's economy is expected to grow at 7.9 per cent in 2025-26, slightly higher than the projected 7.4 per cent growth of the national economy, according to the government's pre-budget Economic Survey tabled in the state assembly on Thursday. The survey said the state's nominal Gross State Domestic Product (GSDP) is estimated at Rs 51 lakh crore, while real GSDP at constant prices is projected at Rs 28.82 lakh crore in 2025-26. The services sector remains the biggest driver of the state economy, accounting for nearly 60 per cent of the total Gross State Value Added (GSVA). The sector is expected to grow around 9 per cent in 2025-26, led by financial, real estate and professional services, it said. The survey projected industry sector growth at 5.7 per cent and agriculture and allied activities at 3.4 per cent during the year. For 2024-25, the survey estimated the state's nominal GSDP at Rs 46.22 lakh crore, with real GSDP growth pegged at 7.3 per cent over the previous year.

RBI Deputy Governor Swaminathan J says India's path to Viksit Bharat@2047 depends on productive capital allocation, meaningful financial inclusion and strong customer protection

The current account deficit stood at $11.3 billion, or 1.1 per cent of GDP, in the corresponding quarter of 2024-25

A new GDP base year, US-Israel strikes on Iran, India's urban planning crisis, and artificial intelligence's impact on the IT sector dominate today's Opinion page

Several elements have been introduced in the new series. For instance, the functions of multi-activity enterprises have been segregated, which will provide a clearer picture

The significance of these figures becomes even more striking when viewed against the backdrop of numerous methodological changes and use of new data sources in the base revision exercise

India revises GDP methodology | Pronab Sen explains what it means

India is set to release a revised GDP series with FY23 as the new base year, replacing 2011-12.

Economy continues to maintain strong growth momentum, supported by broad-based activities, says CEA Nageswaran

India’s manufacturing sector, which currently accounts for about 17 per cent of gross domestic product (GDP)

Under 2004-05 series, India recorded 3 straight yrs of 9%-plus growth

New 2022-23 GDP base may not change sector shares unless methodology is revised, as past shifts show sharp impact of statistical tweaks