Finance 30 October 2026
India's Q2 FY27 GDP Growth Projected at 7.35%: Finance Ministry
Why in the News?
According to the Ministry of Finance’s Monthly Economic Review for October, India’s economic momentum remains exceptionally strong, with GDP growth projected at **7.35 per cent** for the second quarter of FY 2026-27 (Q2 FY27).
Key Features / Major Points:
- Core Drivers of Growth:
- Supported by robust industrial output, surging energy consumption, increased port traffic, steady Goods and Services Tax (GST) collections, and rising automobile sales.
- Strong Resilience in External Sector:
- Total merchandise and services exports registered an **11 per cent year-on-year growth** last month despite persistent global headwinds.
- Merchandise exports alone surged by **23.1 per cent**, driven primarily by high demand in the electronics and engineering goods sectors.
Static GK Facts:
- Ministry of Finance:
- Current Union Minister: **Nirmala Sitharaman**.
- Key Departments: Economic Affairs, Expenditure, Revenue, Financial Services, DIPAM, and Public Enterprises.
- National Statistical Office (NSO):
- Works under the **Ministry of Statistics and Programme Implementation (MoSPI)** to release official national income and GDP data in India.
One-Liner Quiz (All Competitive Exams):
Q: What is the projected GDP growth rate for India in Q2 FY27 according to the Finance Ministry's October report?
A: 7.35 per cent
Q: By what percentage did India's merchandise exports grow year-on-year as per the recent economic review?
A: 23.1 per cent
Q: Which official agency in India releases national GDP estimation figures?
A: National Statistical Office (NSO under MoSPI)
Q: Who is the current Union Minister of Finance in India?
A: Nirmala Sitharaman
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