Q1 FY26 Real GDP Growth Reaches 7.8%
In News
What Happened
Why It Matters
Background
History & Context
What Changed
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GDP Growth Rate: BEFORE Q1 FY26, real GDP growth had moderated, dropping to 6.7 percent in Q1 FY25. NOW, real GDP growth has rebounded strongly, reaching 7.8 percent in Q1 FY26.
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Sectoral Momentum: BEFORE this quarter, the mining sector had generally contributed positively to overall industrial growth. NOW, the mining sector registered a contraction, which was offset by strong 9.3 percent growth in the tertiary sector.
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Base Year Transition: BEFORE, national accounts relied purely on the 2011-12 base year for calculating real GDP. NOW, structural preparations are actively underway under the Goldar Committee to shift the macroeconomic reference base to 2022-23.
Prelims Angle
NCERT Connection
Practice Questions
Q1
With Reference ToWith reference to the estimation of Gross Domestic Product (GDP) in India, consider the following statements: 1. Real GDP is calculated using current market prices without adjusting for inflation. 2. The Advisory Committee on National Accounts Statistics (ACNAS), chaired by Biswanath Goldar, was tasked with updating the GDP base year to 2022-23. 3. The tertiary sector's contribution is accounted for in the Gross Value Added (GVA) calculations under National Income Accounting. Which of the statements given above is/are correct?