PM Modi Hails 7.8% Q1 GDP Growth as 'Herculean Feat'

Prime Minister Narendra Modi on Monday hailed India's 7.8 per cent GDP growth in the April-June quarter as a "herculean feat" and took a dig at critics, saying "doomsayers were doomed and India bloomed yet again." In a post on X, Modi said the economy delivered such growth despite oil price shocks and supply chain issues amid global uncertainties.

"The collective strength of our people ensured India delivered such growth despite oil price shocks and supply chain issues in the midst of global uncertainties," Modi wrote, as quoted by multiple outlets including Business Standard and The Economic Times. "Doomsayers were doomed and India yet again!" he added.

GDP Figures and Economic Context

Government data released on Monday showed India's real GDP grew at 7.8 per cent in the first quarter of the 2026-27 fiscal year (Q1 FY27), a faster-than-expected pace given concerns that the war in Iran and resulting global economic uncertainty could weigh on growth. According to the Ministry of Statistics and Programme Implementation, real GDP in Q1 FY27 stood at Rs 81.36 lakh crore, up from Rs 75.46 lakh crore in the same quarter of the previous fiscal year.

Nominal GDP, or GDP at current prices, was estimated at Rs 88.27 lakh crore in Q1 FY27, compared with Rs 80 lakh crore in Q1 FY 2025-26, showing a growth rate of 10.3 per cent. Real gross value added (GVA) grew at 8.2 per cent to Rs 73.82 lakh crore, while nominal GVA grew at 11.5 per cent to Rs 80.53 lakh crore.

The quarterly estimates, based on the 2022-23 base year, follow the guidelines of the International Monetary Fund's Quarterly National Accounts Manual, 2017, the ministry said. The new series of National Accounts Statistics has also adopted the 'Double Deflation' approach for estimating GVA in the manufacturing sector.

The growth rate slowed from a "barnstorming" 8.6 per cent in the previous quarter, as noted in reports from Business Standard, Daily Excelsior, and The Economic Times. However, it remained well above expectations when the conflict erupted and disrupted energy markets, according to the same reports.

Attribution and Context

Prime Minister Modi's remarks were reported by Business Standard, Daily Excelsior, The Economic Times, and Lokmat Times, with all four outlets carrying the direct quotes from his post on X. The GDP figures were attributed to the Ministry of Statistics and Programme Implementation.

Modi attributed the growth to the collective strength of Indians, rather than specific policy measures, describing it as evidence of the economy's resilience amid global headwinds.