India’s economy continued to display solid momentum in the October to December quarter of 2025, with fresh official data pointing to robust expansion under the revised methodology for calculating Gross Domestic Product (GDP). According to the latest release, India’s GDP growth rate stood at 7.8 per cent during the third quarter of the financial year 2025-2026, as per the Ministry of Statistics and Programme Implementation (MoSPI).ย It grew up from 7.4 per cent a year ago, according to the new series of national accounts with 2022-23 as the base year.
The Ministry of Statistics and Programme Implementation (MoSPI) on Friday released the New Series of Annual and Quarterly National Accounts Estimates with the base year 2022โ23. It replaces the previous series with a base year of 2011โ12. According to the new series, the gross domestic product (GDP) is estimated to grow at 7.6 per cent during the current fiscal, as against 7.4 per cent in the advance estimates released by the ministry in January.
Also, the growth rate for the July-September period of 2025-26 has been revised upwards to 8.4 per cent from 8.2 per cent. However, the growth rate for the first quarter was revised downwards to 6.7 per cent from 7.8 per cent.
New GDP series include data on GST, e-Vahan, household services
The new series of Gross Domestic Product (GDP) with base year 2022-23 included data of goods and services tax, e-Vahan and household services provided by cook, driver and domestic help, to make economic data more accurate. The GDP data for third quarter (October-December 2025) based on new series was released on Friday. According to FAQ on the new series by MoSPI, the base year is updated from time to time to reflect the changes that have happened in the economy over the years.
The base year of the national accounts is being revised from 2011-12 to 2022-23. Although the Ministry of Statistics and Programme Implementation revises data series every five years, it could not be done earlier because of Covid pandemic and implementation of GST.ย It further said, back series data is expected to be released by December 2026.
How were actualย estimates prepared in new series?
In the new series, actual level estimates were prepared using regular annual surveys such as the Annual Survey of Unincorporated Sector Enterprise (ASUSE) and Periodic Labour Force Survey (PLFS). These surveys will measure the dynamism in the household sector more accurately and regularly. Data from GST will be used for allocation of all-India estimates for private corporate sector across states, and for cross-validation in annual accounts.
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