New Delhi, Jan. 20 -- India's real and nominal GDP growth rates for 2025-26 are estimated at 7.4% and 8.0%, respectively, according to the National Statistics Office's first advance estimates. In 2026-27, with prospects of higher Consumer Price Index (CPI) and Wholesale Price Index (WPI) inflation, we may expect real and nominal GDP growth rates at close to 6.5% and 9.5%, respectively. These appear to be some basic numbers with which budget makers will have to work with.

The nominal GDP magnitude for 2025-26 is estimated at Rs.357.14 lakh crore. Applying a nominal growth of 9.5% would provide a figure of Rs.391.1 lakh crore for 2026-27.

Revised revenue estimates for 2025-26

For the period April to November 2025-26, the Centre's gross t...