After robust H1, economists upgrade full-year FY26 growth forecast to 7.5%

Most economists have raised India's FY26 GDP growth forecast to around 7.5% after a strong first half, citing robust Q2 data, improving credit trends and potential support from a US trade deal

With the first half (H1) gross domestic product (GDP) growth clocking 8 per cent, most economists have now upgraded their full-year 2025-2026 (FY26) growth forecast to 7.5 per cent, or above. 

Group Chief Economic Adviser at State Bank of India Soumya Kanti Ghosh said, assuming 7.5-7.7 per cent growth in Q3 (October-December) and 7 per cent in Q4 (January-March), the overall growth for FY26 would be approximately 7.6 per cent. 

Citing high frequency indicators, SBI in a research note said, credit growth of scheduled commercial banks (SCBs) is slowly picking up in the current financial year and grew by 11.3