GDP Growth for FY 2025-26 Revised Upwards to 7.7%, Q4 at 7.8%; MoSPI Releases Provisional Estimates

India's IIP Grows 6.7% in July 2026, Capital Goods Surge 16.1%: MoSPI Data

India's industrial production (IIP) grew 6.7% in July 2026, maintaining a strong start to FY27 despite global headwinds. The surge in capital goods (16.1%) signals a revival in private investment, a key positive for the economy. This data is crucial for exam questions on economic growth, IIP, and sectoral performance.

JCR Upgrades India's Sovereign Rating to A-; Finance Ministry Welcomes Move Citing Strong Growth

Japan Credit Rating Agency (JCR) upgraded India's sovereign rating to 'A-' from 'BBB+', citing high growth (~7%), growth-oriented policies (digital infrastructure, GST), and improved financial system (NPA ratio below 2%). This upgrade lowers India's future borrowing costs and interest burden, a positive signal for fiscal health and investor confidence.

MoSPI Defends New GDP Series as Q1 Growth Hits 7.8%, Base Year Revised to 2022-23

MoSPI Secretary Saurabh Garg defends the new GDP series (base year 2022-23) amid criticism over downward revision of past GDP data. Q1 2026-27 growth at 7.8% surprised economists. Garg says the new series uses better data sources like GST, PLFS, ASUSE, and digital data (e-Vahan, PFMS), making it the best so far. The debate is 'unnecessary' as methods were already public months ago.

India's GDP Base Revision: Nominal GDP Revised Down 2.7-3.8% Using ASUSE and PLFS Data for Unincorporated Sector

India has revised its GDP base year to 2022-23, resulting in a downward revision of nominal GDP by 2.7% to 3.8% over three years. The key driver is improved measurement of the unincorporated services sector using ASUSE and PLFS data. Sectoral impacts vary: agriculture and financial services saw upward revisions, while trade and transport were sharply revised down. The World Bank's April 2026 India Development Update validates these changes, noting broader-based and less volatile quarterly growth.

MoSPI Defends 7.8% GDP Growth Amid Criticism, Cites Base Year Change to 2022-23

MoSPI issued a six-point rebuttal defending the 7.8% GDP growth for Q1 FY26, clarifying that data revisions stem from the base year change (2011-12 to 2022-23) and updated indices (PPI, IIP). The ministry refuted claims of manipulation, emphasizing that comparing old and new series is invalid.

India's Q1 GDP Growth 7.8%: MoSPI Refutes Ex-Finance Secretary's Base Year Manipulation Claim

India's Q1 FY26 GDP grew 7.8% real and 10.3% nominal, but former Finance Secretary S C Garg alleged data manipulation due to base year change. The article clarifies that his calculation is methodologically flawed and explains the importance of base year revisions.

OECD Upgrades India's GDP Growth to 7.1% for FY 2026-27; Multiple Agencies Raise Outlook

The OECD has raised India's GDP growth forecast for FY 2026-27 to 7.1% from 6.3%, joining S&P, Fitch, and Moody's in upgrading India's outlook. All agencies cite domestic resilience and robust demand despite global headwinds from the West Asia crisis. Students should note the convergence of global forecasts and the projected slowdown in the second half of the fiscal year.

Make in India 12-Year Review: PLI Schemes Show Concentration, Manufacturing Growth Patchy

Make in India completes 12 years with mixed results: manufacturing growth has been inconsistent, PLI schemes attracted ₹2.4 lakh crore but concentrated in top 5 sectors, employment impact limited to 8.5 lakh direct jobs. Key data for exams: non-petroleum exports grew 53% to $388.3B, capacity utilisation remains below 80%.