Vol. VIII · No. 3 India Today Blog Economy Edition · March 27, 2026

📊 Economy Deep-Dive

Indian Economy
& Growth 2026

From a $1 trillion economy in 2007 to a $4 trillion powerhouse today — the complete, data-rich story of how India became the world's fastest-growing major economy and where it goes next

By India Today Blog · Updated from official MoSPI, RBI & Economic Survey 2025–26 data

7.6%

GDP Growth FY26

↑ from 6.5% FY25

$4T

Economy Size FY26

4th largest globally

1.33%

CPI Inflation Dec '25

Lowest on record

$701B

Forex Reserves Jan '26

11 months import cover

$135B

Remittances FY25

World's largest

In FY 2025–26, India's economy achieved something no other major nation has managed in the post-pandemic era: it accelerated while the world slowed down. Real GDP grew 7.6%, inflation fell to a historic low of 1.33%, and the country quietly crossed the $4 trillion threshold — cementing its position as the world's fourth-largest economy and setting its sights on third by 2030.

This is the complete story — not a headline, not a press release. We have gone through the Economic Survey 2025–26, MoSPI's latest GDP estimates, RBI monetary policy statements, and trade data to give you the most accurate, in-depth, and UPSC-relevant analysis of India's economy available anywhere. Read every section. Bookmark this page. Return to it before your exam.

Why This Matters for UPSC 2026: The Indian Economy is tested across GS Paper 3 (Economics, Agriculture, Infrastructure, Science), GS Paper 2 (Government Schemes, Governance), and Essay Paper. Every number in this article has appeared in UPSC Prelims or Mains in the last 3 years. The Economic Survey 2025–26, Union Budget 2026–27, and MoSPI GDP data are primary source material for this year's exam. Read systematically.

1

India's GDP Story — From ₹18 Lakh Crore to ₹357 Lakh Crore

Macroeconomic Overview · FY2026

India's nominal GDP crossed ₹357.14 lakh crore ($4 trillion+) in FY 2025–26 — a milestone that took 60 years to reach from independence, but only 4 years from the ₹200 lakh crore mark. Real GDP at constant prices is estimated to grow 7.6% in FY 2025–26, higher than the 7.1% recorded in FY 2024–25. This acceleration — at a time when global growth is slowing — reflects the power of India's domestic demand engine.

India's economy became the world's fourth-largest in 2025, and is poised to become the third largest in the next 2.5 to 3 years with a projected GDP of USD 7.3 trillion by 2030. The quarterly data is equally strong: India's real GDP grew 8.2% in Q2 FY 2025–26, up from 7.8% in the previous quarter and 7.4% in Q4 of 2024–25, led by resilient domestic demand.

The Growth Acceleration — Quarter by Quarter

Quarter	Real GDP Growth	Visual	Key Driver	vs Prev Year
Q1 FY24 (Apr–Jun 2023)	8.2%		Post-election momentum	↑ Strong
Q3 FY24 (Oct–Dec 2023)	7.1%		Manufacturing revival	→ Stable
FY25 Full Year	6.5%		Election year moderation	↓ Slowed
Q1 FY26 (Apr–Jun 2025)	7.8%		Services sector surge (9.3%)	↑ Accelerated
Q2 FY26 (Jul–Sep 2025)	8.2%		Domestic consumption + investment	↑ 6-quarter high
Q3 FY26 (Oct–Dec 2025) ★	7.8%		Broad-based growth	↑ from 7.4% prev yr
FY26 Full Year Estimate	7.6%		Services + Manufacturing	↑ from 6.5%

GDP Key Metrics at a Glance — FY 2025–26

₹357.14 lakh cr

Nominal GDP (Current Prices)

₹201.90 lakh cr

Real GDP (2022–23 base)

8.6%

Nominal GDP Growth FY26

7.6%

Real GDP Growth FY26

A crucial 2026 development: India revised its GDP base year from 2011–12 to 2022–23, the first major revision in 14 years. By integrating improved data sources, strengthening methodological frameworks, expanding coverage of emerging sectors, and enhancing transparency through the Supply-Use Table (SUT) framework, the new series provides a more accurate, consistent picture of India's rapidly transforming economy. For UPSC aspirants, remember: the new base year is 2022–23, and the body releasing GDP estimates is MoSPI (Ministry of Statistics and Programme Implementation) through the National Statistics Office (NSO).

2

Sectoral Deep-Dive — Who Is Actually Growing India

Services · Manufacturing · Agriculture · Construction

India's 7.6% GDP growth in FY26 is broad-based — but it is not equally distributed. Understanding which sectors are leading, which are lagging, and why is the core of any serious economic analysis. Here is the complete sectoral picture:

Tertiary Sector

Services

9.1%

Services sector is estimated to have grown by 9.1% in FY26, up from 7.2% in FY25. Services' share in GDP rose to 53.6% in H1 FY26, with its share in GVA reaching a historic high of 56.4%. Financial services, real estate, IT, trade, hotels, transport, and broadcasting all drove growth.

→Trade, Hotels, Transport & Communication: 10.1% growth

→India now 7th largest exporter of services globally

→Services exports expanded 8.65% to $270 billion in Apr–Nov 2025

→IT, business services and financial services leading the charge

UPSC GS3: Services sector composition, India's global services ranking, IT exports and their role in CAD management.

Secondary Sector

Manufacturing

Double Digit

Manufacturing sector has recorded double-digit growth in both FY 2023–24 and FY 2025–26, emerging as a key contributor to the economy's resilient performance. The PLI schemes, "Make in India 2.0," and rising export competitiveness have driven this remarkable turnaround.

→IIP rose by 7.8% in December 2025 — highest in over 2 years

→Manufacturing PMI at 55.0 in December 2025 — firmly expansionary

→Mobile phone manufacturing: $43 billion annually — India is world #2

→Top IIP drivers: Basic metals (+12.7%), Electrical equipment (+15.9%)

UPSC GS3: IIP methodology, PLI scheme sectors, manufacturing vs services debate in India's growth model.

Primary Sector

Agriculture

3.1%

Agriculture and allied sector have seen moderate growth of 3.1% in GVA at constant prices during FY 2025–26. While below the economy-wide average, this is an improvement on prior years and reflects a good kharif harvest. Agriculture remains critical for rural demand and price stability.

→Agriculture employs ~45% of India's workforce

→Agriculture's share in GDP: ~15–17% — declining over time

→Rural demand driven by good monsoon and PM-KISAN transfers

→Agritech startup ecosystem valued at $24 billion in 2026

UPSC GS3: Agriculture's declining GDP share vs employment share — structural transformation. PM-KISAN, MSP policy, and food inflation linkage.

Secondary Sector

Construction

7.6%

Construction grew at 7.6% in Q1 FY26, driven by the government's massive infrastructure push — ₹11.11 lakh crore capital expenditure in Union Budget 2025–26. Highways, railways, ports, affordable housing (PMAY), and metro rail projects are all generating intense construction activity.

→Government capex: ₹11.11 lakh crore in FY26 (3.4% of GDP)

→Cement production surged 13.5% YoY — steel at 6.9%

→PM Gati Shakti National Master Plan connecting 1,600+ projects

→Construction employs 71 million workers — India's 2nd largest employer

UPSC GS3: Government capex as growth driver, multiplier effect of infrastructure investment, PM Gati Shakti, NIP (National Infrastructure Pipeline).

3

Macroeconomic Stability — Inflation, RBI & Fiscal Health

Monetary Policy · Fiscal Deficit · Price Stability

In economics, growth without stability is dangerous. India in FY26 has achieved the rare combination of high growth + low inflation + strong reserves — a macroeconomic trifecta that few economies in the world can claim.

Inflation — A Historic Low

India's consumer price inflation remained subdued in December 2025, with headline inflation at 1.33% year-on-year — indicating continued moderation in price pressures. This is the lowest CPI reading since India adopted the new CPI series in 2012. India recorded the lowest inflation rate since the beginning of the CPI series, with April–December 2025 average headline inflation coming in at 1.7%. The disinflation was driven by a good kharif harvest, subdued food prices, and anchored expectations.

The RBI operates under an inflation targeting framework (Flexible Inflation Targeting — FIT) adopted in 2016. The MPC (Monetary Policy Committee) targets CPI inflation at 4% ± 2% (i.e., 2–6% band). With inflation at 1.33%, India is running below the lower bound — giving RBI significant room to cut rates. RBI cut the repo rate to 5.25% in 2026, supporting growth without stoking inflation.

Fiscal Position — Consolidation on Track

India's fiscal deficit — the gap between what the government earns and what it spends — has been on a consolidation path. The Centre's revenue receipts improved from an average of about 8.5% of GDP in FY16–FY20 to 9.2% of GDP in FY25, mainly supported by buoyant non-corporate tax collections that increased from about 2.4% of GDP pre-pandemic to around 3.3% post-pandemic.

The fiscal deficit target for FY26 stands at 4.4% of GDP, on a glide path toward 3% — the FRBM (Fiscal Responsibility and Budget Management Act) target. GST collections crossed ₹2 lakh crore monthly for the first time in FY26, indicating formalisation of the economy and robust tax compliance.

Foreign Exchange Reserves — A Fortress Balance Sheet

Foreign exchange reserves stood at USD 701.4 billion as of 16 January 2026, providing an import cover of around 11 months and covering over 94% of external debt, thereby strengthening India's capacity to withstand external shocks. India also remained the world's largest recipient of remittances, with inflows reaching USD 135.4 billion in FY25. These twin pillars — high reserves and large remittances — make India's balance of payments resilient even during global crises.

Key Macroeconomic Indicators — FY 2025–26

1.33%

CPI Inflation (Dec 2025) — Lowest on record

4.4%

Fiscal Deficit Target FY26 (% of GDP)

$701B

Forex Reserves (Jan 2026) — 11 mths import cover

1.3%

Current Account Deficit — GDP % (Q2 FY26)

4

External Sector — Trade, FDI & India's Global Integration

Exports · FDI · Current Account · Trade Deals

India's external sector tells a story of growing global integration — rising exports, improving FDI, moderating CAD, and an ambitious trade deal agenda. India's total exports reached record levels of USD 825.3 billion in FY25 and USD 418.5 billion in H1 FY26, driven by strong growth in services exports and sustained momentum in non-petroleum, non-gems, and jewellery exports.

FDI — Cumulative $1.12 Trillion Since 2000

India's cumulative FDI inflow stood at US$ 1.12 trillion between April 2000–September 2025, with major share coming from Singapore (24.45%), followed by Mauritius (24.04%), the USA (10.11%), Netherlands (7.19%), and Japan (5.97%).

The current account deficit moderated from 2.2% of GDP in Q2 FY 2024–25 to 1.3% in Q2 FY 2025–26. A CAD below 2% is considered comfortable for India — reflecting that the country is not borrowing excessively from the rest of the world to fund its growth.

Trade Deals — Opening New Markets

India's trade deal pipeline in 2025–26 has been extraordinary. The India–UK Free Trade Agreement was finalised, eliminating tariffs on 99% of Indian goods entering the UK. The India–EU FTA — described as transformational — is in advanced stages. Trade deals with New Zealand, Oman, and continued talks with Canada and GCC countries are diversifying India's export markets beyond the traditional US and China dependence.

India–US Trade Deal (Feb 2026): US tariffs on Indian goods were reduced from 25% to 18% — adding an estimated 0.2 percentage points to India's GDP growth. Sectors like pharmaceuticals, textiles, engineering goods, and IT hardware are primary beneficiaries. India's goods exports to the US represent approximately 4% of India's GDP — making this deal economically significant.

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5

Key Government Schemes Driving Growth

Economic Policy · UPSC Schemes · Reforms

🏭

Production Linked Incentive (PLI) — ₹1.97 Lakh Crore

14 sectors including mobile phones, semiconductors, pharmaceuticals, textiles, food processing, and EVs receive incentives tied to incremental production. Mobile phone manufacturing crossed $43 billion — Apple and Samsung now produce iPhones and flagship phones in India. Total investment attracted: ₹1.03 lakh crore; jobs created: 8.5 lakh+.

UPSC GS3: PLI vs SEZ debate, import substitution, global value chain integration, sector-wise targets and actual outcomes.

🛣️

PM Gati Shakti — National Master Plan for Infrastructure

A digital platform integrating 1,600+ infrastructure projects across 16 ministries using GIS mapping and real-time coordination. Reduces project approval time by 50–60%, eliminates inter-ministerial silos, and ensures last-mile connectivity. Projects include highways (NH Expansion), railways (Dedicated Freight Corridors), ports, and logistics parks.

UPSC GS3: Multimodal connectivity, infrastructure investment, NIP (National Infrastructure Pipeline — ₹111 lakh crore), multiplier effect of capex.

🌾

PM-KISAN + MSP + PMFBY — Agriculture Support Trinity

PM-KISAN provides ₹6,000/year direct income support to 11+ crore farmer families. MSP (Minimum Support Price) is raised annually for 23 crops, providing price floors. PMFBY (crop insurance) covers against natural calamities with government-subsidised premiums. Together, these maintain rural demand even in bad monsoon years.

UPSC GS3: Direct benefit transfer, MSP controversy (income support vs procurement price), crop insurance implementation challenges.

🏗️

New Income Tax Act 2025 — Effective April 2026

Replaces the 64-year-old Income Tax Act of 1961. Simplifies 536 sections into cleaner language, digitises processes, adds AI-based dispute resolution, and introduces mandatory rules for crypto-asset taxation at 30%. The PRARAMBH campaign was launched to educate 15 crore taxpayers on the new law. AI chatbot Kar Saathi guides taxpayers through the new system.

UPSC GS3: Direct tax reform, CBDT, compliance simplification, tax-to-GDP ratio improvement, digital taxation of virtual assets.

💳

UPI + Digital Payments Ecosystem

India's Unified Payments Interface processed over 500 crore transactions in its peak month in FY26 — the largest real-time payment system in the world. UPI's success has enabled India's fintech revolution: Razorpay, PhonePe, Paytm, and Google Pay collectively serve 800 million+ users. India accounted for 46% of global real-time payment transactions in 2024.

UPSC GS3: India Stack (Aadhaar + UPI + DigiLocker), financial inclusion, JAM Trinity, NPCI's role, UPI's international expansion (Singapore, UAE, France).

6

What Global Agencies Forecast for India

IMF · World Bank · RBI · Goldman Sachs · ADB

Multiple international and domestic institutions have issued GDP forecasts for India in 2025–26 and beyond. Their estimates span a range reflecting both optimism about India's fundamentals and caution about global headwinds:

MoSPI (Official)

7.6%

Second Advance Estimate FY26. Official government figure.

RBI

7.3%

RBI revised India's GDP growth forecast upwards to 7.3% from earlier estimate of 6.8%

IMF

6.4%

Jan 2026 World Economic Outlook. Slightly conservative on global risks.

World Bank

6.7%

Factors in external sector risks and private investment lag.

Goldman Sachs

5.9%*

*Revised down March 2026 due to Iran conflict oil shock and rupee pressure.

ADB

7.0%

Asian Development Bank. Optimistic on domestic demand resilience.

*Goldman Sachs revised India's calendar year 2026 GDP forecast sharply downward on March 24, 2026, citing the Iran conflict's impact on oil prices, potential currency depreciation, and tightening global financial conditions. The consensus range sits between 6.5–7.6%.

7

Risks, Challenges & Opportunities

Balanced Assessment for UPSC Mains

⚡ Iran War & Oil Price Shock

Brent crude at $105–115/barrel hurts India deeply — we import 85% of our crude oil. Every $10 increase adds ~₹1 lakh crore to India's import bill and widens the current account deficit. The RBI may be forced to reverse its rate-cut cycle if inflation rises from fuel costs.

💸 Private Investment Hesitancy

Government capex is booming, but private corporate investment has not fully revived. The "crowding in" effect — where public investment triggers private investment — is partial. Corporates cite global uncertainty, demand-side risks, and regulatory unpredictability as reasons for caution.

🌦 Agriculture & Rural Income Risk

Agriculture grew only 3.1% in FY26 — well below the economy average. Nearly 45% of India's workforce depends on farming. A bad monsoon in 2026 could devastate rural income, reduce private consumption by 1.5–2%, and spike food inflation — reversing the positive inflation story.

📉 Rupee Depreciation

The Iranian conflict, US dollar strengthening, and capital outflows are putting pressure on the rupee. A weaker rupee raises the cost of oil imports (already high), increases external debt repayment costs, and pushes up input costs for manufacturing — acting as a broad-based inflationary pressure.

🤝 Trade Deal Dividends

The India–UK FTA, India–EU FTA in progress, and India–US tariff reduction are collectively expected to add 1.5–2% to India's export growth annually. India's "China +1" positioning as global supply chains diversify away from China presents a generational opportunity for Indian manufacturing.

🤖 AI & Digital Economy Boom

India's digital economy is estimated at $402 billion (11.74% of GDP) in FY23 and growing toward 20% by 2030. The IndiaAI Mission (₹10,372 crore), India Stack, and 900 million internet users create the infrastructure for a digital economy that will add an estimated $1 trillion to GDP by 2030.

8

Viksit Bharat 2047 — The Roadmap to a Developed India

Long-Term Vision · $30 Trillion Economy · Centenary Goals

Viksit Bharat (Developed India) 2047 is India's national vision for its centenary of independence — to transform India into a fully developed nation with a per capita income comparable to upper-middle-income countries, elimination of extreme poverty, and world-class infrastructure by 2047. The economic target: a $30+ trillion economy.

Viksit Bharat 2047 — Economic Milestones

2026 (Now)

$4 Trillion Economy

World's 4th largest. GDP: ₹357 lakh crore. 7.6% growth. Manufacturing doubling. Services at 53% of GDP.

2027

$5 Trillion Milestone

Projected GDP of US$ 5 trillion. India surpasses Japan to become world's 3rd largest economy.

2030

$7.3 Trillion Economy

India is set to become the world's third-largest economy with a projected GDP of $7.3 trillion by 2030. 500 GW renewable energy target met.

2035

$10 Trillion Economy

Digital economy at 20% of GDP. Manufacturing at 25% of GDP. India among top 5 global exporters.

2040

$20 Trillion Economy

Zero extreme poverty target. Universal healthcare (Ayushman Bharat universal coverage). 100% rural internet.

2047

$30+ Trillion Developed India

India at centenary of independence. Upper-middle income per capita. World's 2nd or 3rd largest economy. A developed nation.

India's Economic Journey — Key Turning Points

1947

Independence — A Broken Economy

India inherits a de-industrialised, poverty-stricken economy after 200 years of colonial extraction. GDP per capita: $439 (1990 PPP). Nehru adopts Soviet-style planned economy and Five Year Plans.

1991

Liberalisation — India's Big Bang Reform

Balance of payments crisis. India pawns gold reserves. Dr. Manmohan Singh (Finance Minister) and PM Narasimha Rao dismantle the License Raj — open economy, FDI allowed, public sector monopolies broken. GDP growth accelerates to 6–7% from 3.5% "Hindu rate of growth."

2007

$1 Trillion Economy

India crosses $1 trillion GDP milestone. IT services boom (Infosys, TCS, Wipro) drives exports. Demographic dividend begins yielding growth dividends.

2014–16

Reform Acceleration — Make in India, Jan Dhan, Startup India

Financial inclusion (Jan Dhan — 500 million bank accounts). Startup India. Make in India. Digital India. JAM Trinity creates digital infrastructure for modern economy.

2017

GST — One Nation One Tax

Goods and Services Tax unifies 17 central and state taxes into one system, creating a common national market for the first time. Initial disruption followed by massive formalisation of the economy.

2020

Pandemic — -6.6% GDP, Then Historic Rebound

India's GDP contracts -6.6% in FY21 — worst since independence. Government launches Aatmanirbhar Bharat package (₹20 lakh crore). FY22 rebound: +8.7% growth — V-shaped recovery led by domestic demand.

2023

$3 Trillion — World's 5th Largest Economy

India surpasses UK to become 5th largest economy. Capital expenditure becomes the primary growth engine. Capex multiplier: every ₹1 of public capex generates ₹3–4 of economic activity.

2025–26

$4 Trillion — World's 4th Largest Economy

India overtakes Japan. 7.6% GDP growth. Lowest inflation on record. $701B forex reserves. India approaches 2027 milestone of $5 trillion and 3rd largest economy status.

Economy Quiz — 12 UPSC-Style Questions

Target 10+/12. Based entirely on verified data from this article. Every question has appeared in past UPSC Prelims patterns.

Q1. India's real GDP growth rate for FY 2025–26 (full year estimate) as per MoSPI is?

Source: Chapter 1 — GDP Story

A) 6.5%

B) 7.1%

C) 7.6%

D) 8.2%

Q2. India's GDP base year was recently revised from 2011–12 to which new year?

Source: Chapter 1 — GDP Methodology

A) 2017–18

B) 2019–20

C) 2022–23

D) 2024–25

Q3. Which government body releases India's official GDP estimates?

Source: Chapter 1 — GDP Story

A) RBI (Reserve Bank of India)

B) NITI Aayog

C) MoSPI / National Statistics Office (NSO)

D) Ministry of Finance

Q4. India's headline CPI inflation in December 2025 was at a historic low of?

Source: Chapter 3 — Inflation

A) 2.5%

B) 1.9%

C) 1.33%

D) 0.9%

Q5. India's foreign exchange reserves as of January 16, 2026 stood at approximately?

Source: Chapter 3 — Forex Reserves

A) $600 billion

B) $650 billion

C) $701 billion

D) $750 billion

Q6. The services sector's share in India's GVA reached a historic high in H1 FY26 of?

Source: Chapter 2 — Services Sector

A) 48.2%

B) 52.1%

C) 56.4%

D) 60.0%

Q7. The RBI's inflation targeting framework mandates a CPI target of 4% with a tolerance band of?

Source: Chapter 3 — RBI Policy

A) ± 1% (3–5%)

B) ± 2% (2–6%)

C) ± 3% (1–7%)

D) ± 1.5% (2.5–5.5%)

Q8. India's cumulative FDI inflow between April 2000 and September 2025 was approximately?

Source: Chapter 4 — External Sector

A) $750 billion

B) $950 billion

C) $1.12 trillion

D) $1.5 trillion

Q9. India was the world's largest recipient of remittances in FY25. The total inflow was?

Source: Chapter 3 — External Buffers

A) $98 billion

B) $112 billion

C) $135 billion

D) $150 billion

Q10. India's total exports (goods + services) reached a record in FY25. What was the figure?

Source: Chapter 4 — Trade Performance

A) $650 billion

B) $740 billion

C) $825 billion

D) $900 billion

Q11. The 1991 economic reforms — liberalisation, privatisation, globalisation — were undertaken under which Finance Minister?

Source: Chapter 8 — Economic History

A) Pranab Mukherjee

B) Dr. Manmohan Singh

C) P. Chidambaram

D) Yashwant Sinha

Q12. India's projected GDP by 2030 is estimated at what figure, making it the world's 3rd largest economy?

Source: Chapter 8 — Viksit Bharat Roadmap

A) $5.5 trillion

B) $6.2 trillion

C) $7.3 trillion

D) $8.0 trillion

Your Score

0 / 12

Quick Revision Table — Key Numbers for UPSC 2026

Indicator	Value / Key Detail	Source / Body	Paper
Real GDP Growth FY26	7.6% (Second Advance Estimate)	MoSPI / NSO	GS3
Nominal GDP FY26	₹357.14 lakh crore / 8.6% growth	MoSPI	GS3
GDP base year (new)	2022–23 (revised from 2011–12)	MoSPI	GS3
CPI Inflation (Dec 2025)	1.33% — historic low	MoSPI	GS3
RBI Repo Rate (2026)	5.25% (after rate cut cycle)	RBI / MPC	GS3
RBI Inflation Target	4% ± 2% (Flexible IT Framework)	RBI Act Amendment 2016	GS3
Forex Reserves (Jan 2026)	$701.4 billion — 11 months import cover	RBI	GS3
Current Account Deficit	1.3% of GDP (Q2 FY26)	RBI / MoF	GS3
Total Exports FY25	$825.3 billion (record)	Ministry of Commerce	GS2
Remittances FY25	$135.4 billion — world's largest recipient	RBI	GS3
Cumulative FDI (2000–Sep 2025)	$1.12 trillion	DPIIT	GS2
Fiscal Deficit Target FY26	4.4% of GDP (FRBM glide path)	Ministry of Finance	GS3
Government Capex FY26	₹11.11 lakh crore (3.4% of GDP)	Union Budget 2025–26	GS3
Services Sector GVA share	56.4% of GVA (historic high, H1 FY26)	MoSPI	GS3
India's Global GDP Rank	4th largest (nominal), 3rd by PPP	IMF / World Bank	GS3
India GDP by 2030 (projected)	$7.3 trillion — 3rd largest economy	Multiple agencies	GS3

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India Today Blog · Economy Edition · March 27, 2026
All data sourced from MoSPI, RBI, PIB, Economic Survey 2025–26, IBEF, and official government releases. Facts verified at time of publication.