Sitharaman says FY27 nominal GDP growth seen 10%, in line with Budget view
This story was originally published at 14:41 IST on 30 March 2026
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--Sitharaman: Nominal GDP to grow 10% in FY27, in line with Budget estimate
NEW DELHI – India's nominal GDP in 2026-27 (Apr-Mar) is likely to grow in line with the 10% growth estimated in the Union Budget, Finance Minister Nirmala Sitharaman said Monday. "Given moderate inflation, along with strong domestic demand, continued public investment, and stable macroeconomic fundamentals, Indian economy is likely to achieve the nominal GDP growth estimate of 10 per cent for the year 2026-27, as envisaged in Budget 2026-27," Sitharaman told the Lok Sabha.
Chief Economic Adviser V. Anantha Nageswaran had said on Feb. 27, before the breakout of the war in Iran, that nominal GDP growth was expected to be close to 11% in FY27. This will be shy of the near 14% growth in nominal GDP required to meet the budgeted fiscal deficit target of 4.3% of GDP for FY27. Nominal GDP is seen growing 8.6% in FY26, slower than 9.7% in FY25, according to the government's second advance estimate.
Even before the war in West Asia started, economists had said a near 14% nominal GDP growth was difficult. The war in West Asia, which has pushed up crude oil prices and has disrupted oil and gas supply, is expected to hurt economic growth in FY27, if prolonged. End
Reported by Shubham Rana
Edited by Tanima Banerjee
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