Govt sees India’s GDP growth at 7.4 pc for FY26

India’s GDP is expected to grow at a rate of 7.4% in the current financial year, up from 6.5% in 2024-25, the Centre has said in advance estimates. The numbers are especially significant because they reflect increased growth in a year that the US slapped 50% tariffs on India, including a 25% penalty for purchasing Russian oil. The two countries have been discussing a trade deal, which is yet to materialise.  The estimates were released by the Ministry of Statistics and Programme Implementation, which said the services sector played a big role in the increase this year. Buoyant growth in the services sector has been found to be a major driver in the estimated real GVA (Gross Value Added) growth rate of 7.3 per cent in FY 2025-26, the ministry said. While manufacturing and construction are estimated to grow at seven per cent, the figures are expected to be moderate for agriculture and utility services like electricity and water supply, as per a report.

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