Finance Ministry Pegs Q2 FY27 GDP Growth at 7.3% in Its September Monthly Economic Review

1 October 2026National

The Finance Ministry's September 2026 Monthly Economic Review, released on 1 October, projects real GDP growth of 7.3 per cent in Q2 FY27 (July-September), easing from the 7.8 per cent the NSO reported for Q1 FY27. Exports ran at nearly USD 400 billion in the first five months of FY27, while a services trade surplus offset 65 per cent of August's merchandise trade deficit. The review flags geopolitical polarisation, volatile crude prices, US tariff pressure and El Nino risks to the rabi crop. Multilateral estimates have been firming up alongside, with the OECD raising its FY27 India forecast to 7.1 per cent in late September.

Static GK

The Monthly Economic Review is published by the Department of Economic Affairs, Ministry of Finance | Quarterly GDP estimates are released by the National Statistical Office under MoSPI, about two months after a quarter ends | India's financial year runs from 1 April to 31 March, so FY27 means 2026-27

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