New Delhi: Finance Minister Nirmala Sitharaman on Sunday, February 1, said that the estimate for nominal gross domestic product (GDP) at 10 per cent for the financial year beginning April 1, 2026, is realistic.

As per the Budget document, India’s GDP growth in absolute terms is estimated at Rs 393 lakh crore.

“Inflation is down in India, and it is remaining there for some time. Inflation is just not the only one, which is a deflator. However, largely you depend on that. Therefore, the assumption of the nominal GDP is realistic,” she said, replying to a query in post-Budget interaction.

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Besides, a 10 per cent nominal GDP growth figure has been arrived at on the basis of the existing GDP base year and the methodology.

The government is set to revise the base year for many important macroeconomic indicators, including GDP and retail inflation measured through the Consumer Price Index (CPI), later this month.

The Ministry of Statistics and Programme Implementation (MoSPI) will release new statistical series with updated base years on February 27.

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National Accounts data will follow 2022–23 as the base year and will be released on February 12, and the CPI revision will take place at the end of February.

Once these new series are introduced, historical data will be recalculated, altering growth rates, inflation trends and nominal values that form the backbone of fiscal projections.

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