2QFY26 GDP: Strong numbers, soft spots, and a credibility question
India’s growth 2QFY26 surprised positively with 8.2% real GDP growth print, up from 5.6% a year ago. On the face of it, this is an impressive print—broad-based, investment-driven, and supported by a healthy services backbone, and steady private consumption; though, a few familiar questions on data quality, especially after the IMF’s recent downgrade of India’s statistical credibility to Category C , cast some cloud on sustainability. A broad-based GDP beat As per the official release real GDP for Q2FY26 is estimated at ₹ 48.63 lakh crore, growing 8.2% YoY, while nominal GDP rose 8.7%. Growth drivers · Manufacturing (9.1%) and Construction (7.2%) carried the secondary sector, delivering an aggregate 8.1% GVA growth . · Tertiary sector GVA expanded 9.2%, led by: Financial, real estate & professional services: 10.2% Public administration & defence: 9.7% ...