New Delhi, Jan 8 || India’s economic growth is expected to outpace the National Statistical Office’s (NSO) first advance estimate, reflecting "buoyant high‑frequency data since September 2025 led by policy impetus," a new report has said.
The report from Morgan Stanley estimated real GDP growth at 7.6 per cent year‑on‑year for FY26 -- above the NSO’s first advance estimate which pegged real GDP growth at 7.4 per cent YoY.
The consensus estimate for FY26 growth is at 7.5 per cent and the Reserve Bank of India’s estimate is 7.3 per cent, the report said.
The combined impetus from fiscal and monetary policy support, improved purchasing power and labour market outlook are likely to ensure consumption recovery gains more breadth.
"Moreover, we anticipate a more broad- based pickup in capex, as improving investor sentiment encourages private investment activity. As such, domestic demand is likely to drive growth, amidst continued tariff and geopolitics-related global uncertainty weighing on external demand. We expect growth at 6.5 per cent YoY in F2027," the report said.