India defends new GDP estimates as standard data upgrades

India's government has defended its latest economic growth estimates, stating that significant revisions to past data and methodological changes reflect standard upgrades to statistical practices rather than any attempt to artificially inflate headline figures. The clarification from the Ministry of Statistics and Programme Implementation (MoSPI) followed public debate over the newly released GDP series, which showed the economy grew by 7.8% in real terms during the first quarter of fiscal year 2026-27. The new series, which uses 2022-23 as its base year, was released on August 31, 2026. It incorporates a new Producer Price Index (PPI), a Banking Services Price Index, and additional administrative data. Statistics Secretary Saurabh Garg explained that the revisions are a combination of the base year shift and the use of more granular price data. The number of deflators used in the estimates has risen to more than 300 from about 180 previously, providing a more detailed picture of price movements across the economy. A central point of contention has been the downward revision of the nominal GDP estimate for the same quarter of the previous fiscal year, from approximately 86.