India's 'Reform Express' continues to gain momentum on investment push, demand-led policies: PM Modi
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Prime Minister Narendra Modi on Wednesday said India's "Reforms Express" is gaining momentum powered by government policies.
Responding to the first advance estimates of the GDP for FY26, PM Modi said in a post on X, "India’s Reform Express continues to gain momentum."
Govt working to realise the dream of prosperous India: PM Modi
"This is powered by the NDA Government’s comprehensive investment push and demand-led policies," Modi said in the post.
"Be it infrastructure, manufacturing incentives, digital public goods or ‘Ease of Doing Business’, we are working to realise our dream of a prosperous India," Modi said.
Reforms needed on mission mode: PM
In a pre budget meeting with the economists on December 30, PM Modi had called for reforms across sectors on a mission mode to develop global capability and global integration for long-term growth.
“Prime Ministerstressed the need for mission-mode reforms to build global capability and attain global integration. To sustain long-term growth, Prime Minister called for mission-mode reforms across diverse sectors,” a government release said after the meeting.
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PM had also recounted 2025 as an year of reforms in a post on linkedin.
FY26 GDP growth pegged at 7.4%
In the advance estimates of GDP issued yesterday, the government pegged real GDP growth at 7.4%. Nominal GDP growth rate for FY26 has been estimated at 8%.
It may be noted that the Economic Survey last year projected GDP growth rate in the range of 6.3% - 6.8% growth for the current fiscal.
"Nominal GDP is estimated to grow at 8.0% in FY 2025-26. Buoyant Growth in services Sector has been found to be a major driver in the estimated real GVA growth rate of 7.3% in FY 2025-26," the estimates suggested.
"Financial, Real Estate & Professional Services and Public Administration, Defence & Other Services in the Tertiary Sector have been estimated to attain a substantial growth rate of 9.9% at Constant Prices in FY 2025-26," it added.
"Trade, hotels, transport, communication & services related to broadcasting Sector has been estimated to grow by 7.5% at Constant Prices in FY 2025-26," it said.
"Manufacturing and Construction in the Secondary Sector has been estimated to achieve a growth rate of 7.0% at Constant Prices in FY 2025-26," the estimates suggested.