Goldilocks moment: BJP on India’s GDP seen growing 7.4 per cent in FY26

The BJP on Thursday described as “Goldilocks moment” the estimate that India’s economy would grow by 7.4 per cent, and said the country is expected to sustain this momentum in 2027 as well.

The ruling party said the economic growth will maintain its pace with Prime Minister Narendra Modi’s focus on reforms and a commitment to providing transparent and corruption-free governance.

The First Advance Estimates released by the Ministry of Statistics and Programme Implementation (MoSPI) on Wednesday put GDP growth in 2025-26 (April 2025 to March 2026 fiscal year) at better than the 7.3 per cent forecast by the RBI and the government’s initial projection of 6.3-6.8 per cent.

“Real GDP or GDP at constant prices is estimated to attain a level of Rs 201.90 lakh crore in FY 2025-26, against the provisional estimates of GDP for FY 2024-25 of Rs 187.97 lakh crore, registering a growth rate of 7.4 per cent,” the National Statistics Office said.

The better-than-expected showing comes on the back of resilience shown by the economy despite the United States imposing punitive tariffs of 50 per cent on Indian goods, escalating trade tensions and threatening to disrupt key export sectors.

BJP national spokesperson Gopal Krishna Agarwal said the GDP advance estimates show the Indian economy is growing at a faster pace to become the world’s third-largest economy under Prime Minister Modi’s leadership, despite “global turmoil” in the economy due to geopolitics and the trend of protectionism in the form of trade and tariffs.

Citing Government data showing growth in various sectors, he said 2026 has “emerged as a Goldilocks moment for our country’s economy. Everyone believes that 2026 has brought about significant positive changes in the country’s economy.”

“We expect to sustain the momentum of the economy in 2027 as well. This is because Prime Minister Modi is committed to continued reforms, administrative reforms, complete eradication of corruption, and bringing complete transparency in the governance,” Agarwal told a press conference at the BJP headquarters here.

The Indian economy had grown at 6.5 per cent in the previous fiscal. The better-than-expected showing comes on the back of resilience shown by the economy despite the United States imposing punitive tariffs of 50 per cent on Indian goods, escalating trade tensions and threatening to disrupt key export sectors.

The Modi Government has responded by overhauling GST, which lowered taxes on hundreds of items, and implementing long-delayed labour reforms.

These, together with the lower income tax burden, cut in interest rates, low inflation and strong rural demand, have kept the momentum in the economy.

“The GDP advanced estimates that came yesterday show how the Indian economy is moving forward strongly under Prime Minister Modi’s leadership,” the BJP spokesperson said.

“The macro-economic parameters are strong today because of the Modi Government’s focus on reforms,” he added. Agarwal said the rural economy is growing at 3.1 per cent with a “strong performance” of the agriculture sector.

At the same time, the employment-generating construction sector is recording a “strong growth” of 7 per cent, while the services sector has registered robust growth of 9.1 per cent, he said. “The current macroeconomic indicators clearly demonstrate India’s strength.

FDI attractiveness is at a record high, and despite next-generation tax reforms and rate reductions, GST collections continue to rise, reaching Rs 1.77 lakh crore in December,” he added.

The BJP spokesperson said India has demonstrated “resilience” despite global protectionism and challenges arising from trade tariffs. “Overcoming external pressures, the country recorded exports of a record $419 billion during the April–September period,” he said.