• Source:JND
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India’s GDP surged 8.2 percent in Q2 FY26, the fastest growth in six quarters, compared with 5.6 percent  a year earlier, according to the Ministry of Statistics and Programme Implementation. The strong performance was supported by robust rural demand and increased government spending, even as private investment remained subdued. This follows a 7.8 percent  expansion in the previous quarter, reaffirming the economy’s steady momentum.

The growth rate significantly exceeded expectations, with analysts having predicted Q2 FY26 expansion at 7-7.5 percent. The economy had grown at a seven-quarter low of 5.6 percent  in the September 2024 quarter (Q2 FY25) before rebounding to 7.8 percent  in Q1 FY26. The latest numbers highlight a sharp recovery and stronger-than-anticipated economic resilience.

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"Real GDP or GDP at Constant Prices in Q2 of FY 2025-26 is estimated at Rs 48.63 lakh crore, against Rs 44.94 lakh crore in Q2 of FY 2024-25, registering a growth rate of 8.2 percent," the National Statistical Office said in a statement on November 28.

Nominal GDP, which accounts for inflation, recorded an 8.7 percent growth rate in Q1 of FY 2025-26. Meanwhile, Real Gross Value Added (GVA), a measure of economic output that excludes net product taxes, stood at Rs 44.77 lakh crore in Q2 FY26, compared with Rs 41.41 lakh crore in the same quarter of FY 2024-25.

According to the latest NSO data, this reflects a robust 8.1 percent growth in Real GVA, underscoring strong supply-side performance across the economy.

PM Narendra Modi tweets, "The 8.2% GDP growth in Q2 of 2025-26 is very encouraging. It reflects the impact of our pro-growth policies and reforms. It also reflects the hard work and enterprise of our people. Our government will continue to advance reforms and strengthen the Ease of Living for every citizen."

Key Highlights:

Real GDP is estimated to have grown by 8.2 percent in Q2 of FY 2025-26, compared to 5.6 percent in Q2 of FY 2024-25.

2. Nominal GDP recorded a growth rate of 8.7 percent in Q2 of FY 2025-26.

3. The Secondary (8.1 percent) and Tertiary (9.2 percent) sectors contributed significantly, pushing Real GDP growth above 8.0 percent  in Q2 of FY 2025-26.

4. Within the Secondary sector, Manufacturing (9.1 percent) and Construction (7.2 percent) registered growth rates above 7.0 percent at constant prices this quarter.

5. In the Tertiary sector, Financial, Real Estate & Professional Services (10.2 percent) maintained substantial growth at constant prices in Q2 of FY 2025-26.

6. Government Final Consumption Expenditure (GFCE) has decreased, registering a 2.7 percent fall in Nominal terms during Q2 of FY 2025-26, over the growth rate of 4.3 percent in Q2 of FY 2024-25, according to the latest data.

7. Agriculture and Allied activities (3.5 percent) and Electricity, Gas, Water Supply, and Other Utility Services (4.4 percent) experienced moderate real growth in Q2 of FY 2025-26.

8. Real Private Final Consumption Expenditure (PFCE) grew by 7.9 percent in Q2 of FY 2025-26, up from 6.4 percent in the same period of the previous year.

9. Gross Fixed Capital Formation (GFCF) has recorded 7.3 percent growth rate at Constant Prices, over the growth rate of 6.7 percent in Q1 of FY 2024-25.

10. Real GDP for H1 (April-September) of FY 2025-26 expanded by 8.0 percent, compared to 6.1 percent in H1 of FY 2024-25.

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In 2024-25, the Indian economy grew by 6.5 percent in real terms, in line with the Reserve Bank of India’s projection for the fiscal year. The previous year, 2023-24, saw India’s GDP expand by a remarkable 9.2 percent, maintaining its position as the fastest-growing major economy. According to official data, the economy had grown by 8.7 percent in 2021-22 and 7.2 percent in 2022-23.

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