India's Real GDP Grows 7.8% in Q1 2026; Double Deflation, Investment Share Rises to 34%

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.

MoSPI Considers Diary-Based HCES for High-Income Households to Tackle 9.8% Urban Non-Response Rate

To counter rising non-response from affluent households in gated societies, MoSPI is piloting a 'diary-based' self-reporting method for the next Household Consumption Expenditure Survey (HCES) in 2027-28. This shift is critical because the HCES data directly impacts CPI basket weights, inflation targeting by RBI, and policy making, but raises concerns about data comparability due to differential recall errors between survey methods.

New GDP Series 2022-23: 5 Key Changes Including MGT-7 Classification, Gold Savings Doubling, and Rooftop Solar

India's new GDP series (base year 2022-23) introduces five lesser-known but impactful changes. Key reforms include splitting enterprise GVA by activity using MGT-7 forms, valuing government housing, lowering asset useful lives, shifting household savings data source to SEBI (doubling gold savings estimates), and including rooftop solar electricity. These changes improve GDP accuracy but require careful understanding for exam questions on methodology.

MoSPI Revises GDP Using PPI for Double Deflation; Base Year Shifted to 2022-23

MoSPI has revised past GDP growth data after changing the base year to 2022-23 and adopting double deflation using the Producer Price Index (PPI). This methodological shift has led to significant revisions in quarterly and annual GDP estimates, impacting how real growth is measured, especially when input and output prices move differently. For students, understanding these changes is crucial for both static GK (GDP calculation) and current affairs (base year revisions).

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%.

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.

Govt Proposes Gold Monetisation via Jewellers: 20,000 Tonne Idle Gold, Demat Deposits, Interest Income

The government is planning a new gold monetisation scheme where jewellers, not banks, will collect physical gold deposits from households, issue demat receipts, and pay interest. This aims to unlock over 20,000 tonnes of idle gold, improve India's trade balance, and reduce import dependence — a key reform for economic stability and current account management.

India's MoSPI Launches Experimental Monetary Asset Accounts of Marine Fish Resources for Blue Economy

India's MoSPI has initiated a groundbreaking experiment to assign monetary value to marine fish stocks under the UN SEEA framework. This natural-capital accounting aims to integrate blue economy into national accounts, providing data for sustainable fisheries management and climate-risk assessment. For UPSC aspirants, this links to Environment, Economy, and Government policies on blue economy.