SBI Research Projects India's Q1 FY27 GDP Growth at Around 7%

5 August 2026National

SBI Research (Economic Research Department, State Bank of India), in its pre-policy report titled *Prelude to Monetary Policy Committee Meeting: August 3-5, 2026*, projected India's Q1 FY27 (April-June 2026) GDP growth at around 7% - higher than the RBI's estimate of 6.6%. The upward view rests on strong high-frequency indicators: passenger-vehicle sales +24.1% YoY, electricity demand +11.5%, exports +15.5% and the IIP +7.3% (June 2026). Q1 FY27 inflation stood at 3.9%, with full-year FY27 CPI seen near 5%, within the RBI's 2-6% band.

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SBI Chairman: C.S. Setty | SBI founded: 1 July 1955 | HQ: Mumbai | Flagship report: Ecowrap | SBI is India's largest commercial bank

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SBI Research pegged India's Q1 FY27 GDP growth at ~7%, above the RBI's 6.6% estimate.

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