India Releases New GDP Series with 2022-23 Base Year, Reports 7.8% Q3 Growth

India has released its new GDP series with 2022-23 as the base year, replacing the 2011-12 benchmark to better reflect current economic realities. The update incorporates data from GST, e-Vahan, household services, and more granular inflation deflators, aiming to improve accuracy and capture sectors like digital and gig economies. Q3 FY26 GDP growth stood at 7.8%, with FY26 growth projected around 7.6%, slightly higher than previous estimates. The revision may reshape policy outlooks and sectoral weights, while back-series data will be released by December 2026.