Page 3 - Gdp

Govt revises fiscal deficit ratios for FY23-FY25 after GDP base year update

The fiscal deficit as a percentage of GDP for three financial years till 2024-25 has been revised upwards following the revision in base year for calculation of GDP, the government informed Parliament on Tuesday. As per the new GDP Series published on February 27, the fiscal deficit as a percentage of GDP works out to be 4.9 per cent for 2024-25, 5.7 per cent for 2023-24, and 6.7 per cent for 2022-23, Minister of State for Finance Pankaj Chaudhary said in a written reply in the Rajya Sabha. The fiscal deficit was earlier estimated at 4.8 per cent for FY'25, 5.63 per cent for FY'24 and 6.4 per cent for FY'23. In absolute term, fiscal deficit stood at Rs 15.74 lakh crore in FY'25, Rs 16.55 lakh crore in FY'24 and Rs 17.38 lakh crore in FY'23. On February 27, 2026, the government released the new series of Gross Domestic Product (GDP) estimates with 2022-23 as the base year, replacing the previous series with a base year of 201112. With the new 2022-23 base, the Nominal GDP or GDP at

Ministries have Feb-Mar to bridge 26% average revised estimate gap

Some ministries are over 45% short of revised estimates

Maharashtra's economy projected to grow 7.9% in 2025-26: Economic Survey

Maharashtra's economy is expected to grow at 7.9 per cent in 2025-26, slightly higher than the projected 7.4 per cent growth of the national economy, according to the government's pre-budget Economic Survey tabled in the state assembly on Thursday. The survey said the state's nominal Gross State Domestic Product (GSDP) is estimated at Rs 51 lakh crore, while real GSDP at constant prices is projected at Rs 28.82 lakh crore in 2025-26. The services sector remains the biggest driver of the state economy, accounting for nearly 60 per cent of the total Gross State Value Added (GSVA). The sector is expected to grow around 9 per cent in 2025-26, led by financial, real estate and professional services, it said. The survey projected industry sector growth at 5.7 per cent and agriculture and allied activities at 3.4 per cent during the year. For 2024-25, the survey estimated the state's nominal GSDP at Rs 46.22 lakh crore, with real GSDP growth pegged at 7.3 per cent over the previous year.

Productive capital, inclusion key to next growth phase: RBI Dy Guv

RBI Deputy Governor Swaminathan J says India's path to Viksit Bharat@2047 depends on productive capital allocation, meaningful financial inclusion and strong customer protection

India's CAD widens to ₹13.2 billion in Q3 on higher trade deficit: RBI

The current account deficit stood at $11.3 billion, or 1.1 per cent of GDP, in the corresponding quarter of 2024-25

Best of BS Opinion: New GDP series welcome, but more needs to be done

A new GDP base year, US-Israel strikes on Iran, India's urban planning crisis, and artificial intelligence's impact on the IT sector dominate today's Opinion page

A new beginning: New GDP series has improved the scope of estimation

Several elements have been introduced in the new series. For instance, the functions of multi-activity enterprises have been segregated, which will provide a clearer picture

India's new GDP series: Shaping key decisions in a data-driven era

The significance of these figures becomes even more striking when viewed against the backdrop of numerous methodological changes and use of new data sources in the base revision exercise

India revises GDP methodology | Pronab Sen explains what it means

India revises GDP methodology | Pronab Sen explains what it means

Explained: How India’s new GDP series will alter growth estimation | GDP growth numbers | Economy

India is set to release a revised GDP series with FY23 as the new base year, replacing 2011-12.

GDP growth projection for FY27 revised to 7-7.4% as per new series: CEA

Economy continues to maintain strong growth momentum, supported by broad-based activities, says CEA Nageswaran

India's Q3FY26 GDP growth slows to 7.8% from 8.4% in Q2 on new series

India's GDP grew 7.8% in Q3FY26 under the new series, slightly slower than earlier quarters, while full-year FY26 growth is estimated higher at 7.6% compared to 7.1% in FY25

India must build materials, tech capability to scale manufacturing: Experts

India’s manufacturing sector, which currently accounts for about 17 per cent of gross domestic product (GDP)

India's growth may outpace current estimates after GDP data overhaul

Earlier this month, the government revised its inflation series to better capture shifting spending patterns in the world's fastest-growing major economy

What shifts beyond the base under India's new GDP series overhaul

A key pillar of the new series is the improved measurement of the household and informal sectors that account for a significant share of output and employment

A beginner's guide to GDP estimates ahead of the release of new series

What is GDP, how is it calculated, and why do estimates matter? A simple guide to GDP, GSDP, nominal vs real growth and India's new base year

New GDP series: How revisions in FY2011-12 rewrote high-growth years

Under 2004-05 series, India recorded 3 straight yrs of 9%-plus growth

Datanomics: FY05 vs FY12 GDP series - Industry share rose, services fell

New 2022-23 GDP base may not change sector shares unless methodology is revised, as past shifts show sharp impact of statistical tweaks

On the right track: Asset monetisation will boost efficiency and growth

Given fiscal constraints and the need to lower the debt-to-GDP ratio, the Union finance ministry sees reviving asset monetisation as key to sustaining growth momentum

Govt overhauls GDP data using granular CPI, WPI data to improve accuracy

Under previous methods, low nominal ‌GDP growth alongside low wholesale inflation created discrepancies by translating into higher real growth rates