On January 07 2026, the National Statistics Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) released the First Advance Estimates (FAE) of Gross Domestic Product (GDP) for the Financial Year 2025-26 (FY26), along with its Expenditure components both at Constant (2011-12) and Current Price.
Exam Hints:
- What? FAE of GDP for FY26 released
- Released by: NSO
- Real GDP: 7.4%, Rs 201.90 lakh Cr
- Nominal GDP: 8%, Rs 357.14 Lakh Cr
- Real GVA: 7.3%, Rs 184.50 lakh Cr
- Nominal GVA: 7.7%, Rs 323.48 lakh Cr
- PFCE: 7%
- GFCE: 5.2%
- GCF: 7.8%
- Primary Sector: 2.7%
- Agriculture: 3.1%
- Secondary Sector: 6.6%
- Manufacturing: 7.0%
- Tertiary Sector: 9.1%
- Trade, hotels, transport: 7.5%
Key Highlights
Real GDP Growth: As per the NSO, the Real GDP has been estimated to grow by 7.4% in FY26 against the growth of 6.5% during FY25.
- Real GDP or GDP at Constant Prices is estimated at Rs 201.90 lakh crore in FY26, against the Provisional Estimates (PE) of GDP for the FY25 of Rs 187.97 lakh crore
Nominal GDP growth: Nominal GDP growth at current prices is projected at 8% in FY26, which is lower than the previous year’s record of 10.4%.
- Nominal GDP is estimated at Rs 357.14 lakh crore in FY26, against Rs 330.68 lakh crore in FY25.
Gross Value Added (GVA): Real GVA is estimated at Rs 184.50 lakh crore in the FY26, against the PE for the FY25 of Rs 171.87 lakh crore, registering a growth rate of 7.3%.
- Nominal GVA is estimated at Rs 323.48 lakh crore during FY26, against Rs 300.22 lakh crore in FY25, recording a growth rate of 7.7%.
Private Final Consumption Expenditure (PFCE): It is defined as the expenditure incurred by the resident households and non-profit institutions serving households (NPISH) on final consumption of goods and services.
- The PFCE at Constant Prices is estimated to marginally decline to 7.0%, compared to 7.2% recorded in FY25.
Government Final Consumption Expenditure (GFCE): The government’s spending on goods and services at constant prices, is estimated at a growth of 5.2% in FY26, up from 2.3% in FY25.
Gross Fixed Capital Formation (GFCF): GFCF refers to the aggregate of gross additions to fixed assets (i.e., fixed capital formation).
- As per the NSO, the GFCF is estimated at 7.8% (in FY26), against the 7.1% growth observed in FY25.
Sector-wise GVA growth at 2011-12 Prices
The economic activity of the country is broadly classified into three major sectors – Primary, Secondary and Tertiary Sector.
Primary Sector: The primary sector is estimated to grow at 2.7% in FY26, compared to 4.4% in FY25.
- The Agriculture and Allied Sector is expected to grow at a moderate pace of 3.1% (FY26), lower than the 4.6% growth recorded in FY25.
Secondary Sector: This sector grew by 6.1% in FY25 and is estimated to accelerate to 6.6% in FY26.
- Manufacturing growth is estimated to strengthen from 4.5% in FY25 to 7.0% in FY26.
Tertiary Sector: The tertiary sector recorded a growth of 7.2% in FY25, with an estimated increase to 9.1% in FY26.
- Growth in Trade, Hotels, transport, Communication and broadcasting-related services was 6.1% in FY25 and it is projected to reach 7.5% in FY26.
New Base Year in progress:
FY23: The MoSPI is in the process of revising the Base year of National Accounts from FY12 (Current Series) to FY23 (New Series).
- Therefore, the Advance and Quarterly Estimates will undergo revisions due to Changes in the Methodology of Estimation at Current and Constant Prices, Incorporation of Updated and New Data Sources, Updation of Annual Benchmark etc.
About Ministry of Statistics and Programme implementation (MoSPI):
Minister of State (MoS) (Independent Charge, IC)–Rao Inderjit Singh (Constituency- Gurugram, Haryana)
