The Survey, citing the First Advance Estimates released by the Ministry of Statistics and Programme Implementation (MoSPI), states that Gross Value Added (GVA) growth for FY26 is placed at 7.3%, reflecting sustained growth momentum despite global economic uncertainty.
On the demand side, the Survey notes that domestic demand continues to anchor economic growth, supported by a strengthening momentum in capital formation. On the supply side, manufacturing activity has gained traction, while services continue to drive overall expansion, led by steady performance in trade, transport, and financial and professional services.
The Survey also highlights that private final consumption expenditure (PFCE) has risen to 61.5% of GDP in FY26, the highest level since FY12, indicating strong consumption demand in the economy.
Looking at the medium-term outlook, the Survey states that calibrated improvements in capital accumulation, labour input and productivity are expected to generate an upward shift in potential GDP growth from 6.5% to around 7%.
However, the Survey cautions that exogenous shocks, including geopolitical conflicts and their economic fallout, can prevent the economy from growing at its potential, and says sustained coordination between the Centre and the States will be critical for maintaining the higher growth trajectory.
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