SBI Research Projects India’s FY26 GDP Growth at 7.5%: Key Highlights of Ecowrap Report
India’s economic growth outlook received a positive push as the State Bank of India (SBI) Economic Research Department projected that India’s GDP growth for FY 2025–26 (FY26) will be 7.5% (with an upward bias). This projection was published in SBI’s well-known Ecowrap report released on January 7, 2026.
Notably, SBI’s estimate is slightly higher than the 7.4% First Advance Estimate given by the National Statistical Office (NSO), and also above the Reserve Bank of India (RBI) projection of 7.3% for the same fiscal year. This makes the report an important current affairs topic for UPSC, SSC, Banking, Railways, and State PSC exams.
SBI’s report explained an important observation: the difference between the RBI’s estimate and NSO’s advance estimate generally remains within 20–30 basis points (bps).
Key takeaway:
According to the NSO:
This indicates strong performance in core economic activity after adjusting for inflation.
Nominal GDP (includes inflation effect) is expected to rise faster:
Nominal GDP matters greatly for government budgeting, tax revenues, fiscal deficit calculations, and policy planning.
| Institution | FY26 GDP Growth Projection |
|---|---|
| SBI (Ecowrap Report) | 7.5% |
| NSO (First Advance Estimate) | 7.4% |
| RBI | 7.3% |
This comparison is highly useful for exam MCQs and interview discussions.
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