Union Minister Piyush Goyal has strongly defended India’s reported 7.8% GDP growth in the first quarter of FY 2026-27, rejecting criticism over the revised GDP data.
Goyal said the growth reflected the hard work of 140 crore Indians and accused some economists of creating a negative narrative about the country’s economy. He argued that GDP figures from different series should not be compared directly.
The remarks come after former Finance Secretary Subhash Chandra Garg questioned the 7.8% growth figure and raised concerns over revisions in previous GDP estimates.
The government has rejected claims that actual growth was closer to 2.6%. Ministry of Statistics and Programme Implementation Secretary Saurabh Garg said such comparisons mix data from different GDP series and price measures.
The government maintained that the 7.8% figure was calculated using the new 2022-23 base-year series and comparable constant-price data.
Officials also clarified concerns regarding manufacturing deflators, mining data and GDP revisions, stating that the changes followed normal statistical procedures and updated methodologies.