Finance Ministry Projects 7.3% GDP Growth for July-September Quarter
By Srinivas Iyer
The Finance Ministry has projected India’s real GDP growth at 7.3 per cent for the July-September quarter of 2026, citing continued domestic demand, manufacturing activity and public investment. The projection is contained in the ministry’s September Monthly Economic Review.
The estimate comes after the economy recorded 7.8 per cent growth in the April-June quarter of 2026. The ministry’s latest assessment suggests that economic momentum has continued into the second quarter, although at a more measured pace.
According to the Finance Ministry, domestic economic conditions remain supportive, with demand and investment activity providing momentum. Manufacturing and services activity have also contributed to the broader expansion, while government spending and public investment continue to support economic activity.
The projection is higher than the Reserve Bank of India’s earlier estimate for the July-September quarter. The RBI had previously projected quarterly growth at 6.4 per cent, while its full-year growth forecast for 2026-27 stood at 6.7 per cent.
At the same time, the Finance Ministry cautioned that India’s growth momentum cannot be taken for granted amid continuing global economic and geopolitical uncertainties. Higher global interest rates, energy prices and external demand conditions remain factors that could influence the outlook.
The 7.3 per cent figure is a ministry projection and not the final official GDP estimate for the July-September quarter. The actual quarterly GDP data will be released subsequently by the government’s statistics authorities.
