NSO Pegs India's Q1 FY27 Real GDP Growth at 7.8%; SBI Research Raises FY27 Forecast to 7.3%

2 September 2026National

The National Statistical Office (NSO) under the Ministry of Statistics and Programme Implementation (MoSPI) released quarterly GDP estimates for Q1 (April-June) of FY27, placing real GDP growth at 7.8%, up from 6.9% in Q1 FY26. GDP at constant (2022-23) prices stood at Rs 81.36 lakh crore, while GDP at current prices reached Rs 88.27 lakh crore, a nominal growth of 10.3%. It is the first release on the revised National Accounts series with base year 2022-23. Real Gross Value Added grew 8.2%. On the back of the print, SBI Research raised its FY27 growth forecast from 6.6% to 7.3%.

Static GK

Quarterly GDP estimates are compiled using the Benchmark-Indicator Methodology by the National Statistical Office under MoSPI | Gross Value Added (GVA) equals GDP minus product taxes plus product subsidies | India's financial year runs from 1 April to 31 March, with Q1 covering April-June

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