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MoSPI Secretary Garg: India's Growth Remains Robust; FY26 Fiscal Deficit Slightly Higher, IMF Rating Controversy a 'Storm in a Teacup'
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India's Growth Resilient Despite Global Shocks, FY26 Fiscal Deficit Slightly Higher: MoSPI Secy
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CNBC TV18
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27-02-2026, 23:19
India's Growth Resilient Despite Global Shocks, FY26 Fiscal Deficit Slightly Higher: MoSPI Secy
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India's economy remains "extremely resilient" with real GDP growth consistently above 7% for three years.
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FY24 real GDP growth revised to 7.2%, maintaining strong momentum.
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FY26 nominal GDP estimated at ₹345.47 lakh crore, slightly lower than earlier estimates, with the gap expected to narrow.
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FY26 fiscal deficit revised to 4.5% of GDP (from 4.4%) due to lower nominal GDP base, not fiscal deterioration.
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MoSPI Secy Garg dismissed IMF rating controversy as a "storm in a tea cup," citing robust data systems and base year update.
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