New Delhi [India], August 31 (ANI): Prime Minister Narendra Modi on Monday described India's 7.8 per cent GDP growth in the first quarter of financial year 2026-27 as a "herculean feat", saying the country's growth came despite oil price shocks, supply chain issues and global uncertainties.
Reacting to the latest GDP data, PM Modi said the collective strength of the people helped India deliver strong economic growth despite the challenges facing the global economy.
"India's exemplary GDP growth of 7.8 per cent during Q1 of FY 2026-27 is a herculean feat," Modi said in a social media post.
He added that the growth came amid oil price shocks and supply chain issues, at a time when the global economy continues to face uncertainty.
"The collective strength of our people ensured India delivered such growth despite oil price shocks and supply chain issues in the midst of global uncertainties," the Prime Minister said.
Modi also used a phrase to highlight his view that the latest growth figures had defied pessimistic expectations, saying, "Doomsayers were doomed and India bloomed...yet again!"
According to data released by the Ministry of Statistics and Programme Implementation (MoSPI), India's real GDP grew 7.8 per cent in Q1 FY27, covering the April-June period.
Real GDP was estimated at Rs 81.36 lakh crore in Q1 FY27, compared with Rs 75.46 lakh crore in the same quarter of FY26.
The latest growth figure was also higher than the 7 per cent Q1 FY27 growth estimate earlier projected by the Reserve Bank of India (RBI).
The RBI had also revised its real GDP growth forecast for the full financial year FY27 to 6.7 per cent from 6.6 per cent.
The latest data showed that nominal GDP, which is measured at current prices, was estimated at Rs 88.27 lakh crore in Q1 FY27, compared with Rs 80.00 lakh crore in Q1 FY26. It registered a growth of 10.3 per cent.
Real gross value added (GVA) also recorded strong growth during the quarter. Real GVA was estimated at Rs 73.82 lakh crore in Q1 FY27, compared with Rs 68.21 lakh crore in Q1 FY26, registering a growth of 8.2 per cent.
Finance Minister Nirmala Sitharaman also welcomed the latest GDP figures, saying the strong performance reflected the hard work of the people of India.
She said the reforms undertaken by the NDA government, along with its management of the economy, were bearing results.
"Estimated growth of real GDP in Q1 of FY 2026-27 is 7.8 per cent. Nominal GDP in Q1 of FY 2026-27 is estimated to have grown by 10.3 per cent, while Real GVA has recorded growth of 8.2 per cent," Sitharaman said in a social media post.
She added, "The credit for this strong performance goes to the people of India and their hard work. Reforms undertaken by the NDA Government, together with an agile management of the economy, are bearing results. The NDA Government, led by PM Shri @narendramodi, remains committed to further expanding economic opportunities for all our citizens".
The Q1 GDP estimates are subject to revisions. MoSPI said improved data coverage and revisions in input data by source agencies would have a bearing on subsequent revisions of the estimates.
The next release of quarterly GDP estimates, covering the July-September quarter (Q2) of FY27, is scheduled for November 30, 2026. (ANI)
PM Modi calls India's 7.8% GDP growth 'herculean feat' amid global uncertainties
