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How fast is investment growing?

11.9%

Q1 2026-27▲ 1.4 vs Q4 2025-26

MoSPI · released 31 Aug 2026 · next due by 30 Nov 2026

How fast is investment growing?
Period	Value (%)
Q1 2026-27	11.9
Q4 2025-26	10.5
Q3 2025-26	8.3
Q2 2025-26	7.2
Q1 2025-26	5.8
Q4 2024-25	7.6
Q3 2024-25	6.9
Q2 2024-25	8.9
Q1 2024-25	9.7
Q4 2023-24	9.6
Q3 2023-24	8.0
Q2 2023-24	10.6
Q1 2023-24	7.9

Use in your answer

Real gross fixed capital formation (investment) in India grew 11.9% in Q1 2026-27, compared with 10.5% in Q4 2025-26. Source: MoSPI, Quarterly Estimates of GDP (base 2022-23).

Cite as: Quarterly Estimates of GDP (National Accounts Statistics) (NSO, MoSPI), Q1 2026-27

What this shows

Real investment (GFCF) grew 11.9% in Q1 (April–June) 2026-27, a double-digit rate, up from 5.8% a year earlier (MoSPI press note, 31 August 2026).
At current prices GFCF was 34.3% of GDP in Q1 2026-27, up from 31.4% a year earlier (press note, Statement 4).
IIP capital goods rose 15.2% and goods-vehicle registrations 20.1% in the same quarter, among the indicators MoSPI tracks (press note annexure).

Cite this

Quarterly Estimates of GDP (National Accounts Statistics) (NSO, MoSPI), Q1 2026-27

Cite a fixed version from every published version below.

Source and method

Source: MoSPI, Quarterly Estimates of GDP (base 2022-23)
Table: Gross Fixed Capital Formation at constant prices: press note Q1 2026-27, Statement 2; NAS 2026 Statement 8.18.1 (growth rates as published)
Released: 31 Aug 2026
Retrieved: 18 Oct 2026
Next due: by 30 Nov 2026
Processing: Year-on-year change in MoSPI's published quarterly GFCF at constant 2022-23 prices (₹ crore), to one decimal; it reproduces every growth rate MoSPI publishes.
Licence: GODL-India

What exactly is measured

Year-on-year growth in gross fixed capital formation (spending on buildings, machinery, equipment and other fixed assets by government, firms and households), by quarter of the financial year, at constant 2022-23 prices. Computed from MoSPI's published quarterly levels; the result reproduces every growth rate MoSPI publishes. The latest quarter is a first estimate.

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Exam facts

Published by: National Statistics Office (NSO), Ministry of Statistics and Programme Implementation
Survey / report: Quarterly Estimates of GDP (National Accounts Statistics)
Base year: 2022-23
Frequency: Quarterly, about two months after the quarter ends (Q1 = April–June)
Measures: Year-on-year growth of real gross fixed capital formation (spending on buildings, machinery, equipment and other fixed assets by government, firms and households), at constant 2022-23 prices
Syllabus: GS-III · Economy

The new national accounts series with base year 2022-23 was released on 27 February 2026, replacing the 2011-12 base; growth rates from the two series are not comparable.
Quarterly estimates use the benchmark-indicator method: the previous year's estimates are extrapolated with indicators of each sector's performance (MoSPI press note, Q1 2026-27).
On 31 August 2026 MoSPI updated every quarter from Q1 2022-23 to Q4 2025-26 with the new Output Producer Price Index and the IIP on base 2022-23.
GFCF is the expenditure-side measure of investment; it does not include changes in stocks or valuables.

Asked in UPSC

CSE Prelims 2018, General Studies Paper I, Q50 (set A)Why high saving and capital formation may not raise output
CSE Mains 2020, General Studies Paper III, Q11Investment understood as capital formation

Links open UPSC's own question papers. Themes are ours.

History: every published version

Each time the source changes this series we archive the full series as it stood, with an archived copy of the source, and never delete an old version. Each version has a permanent page you can cite. Recorded since 18 Oct 2026: 1 version.

No figure in this series has been revised since we began recording on 18 Oct 2026.

18 Oct 2026, 21:03 IST13 periods, latest Q1 2026-27: 11.9% · first snapshotArchived sourceed1e6370a8cc

Release notes (1)

Aug 202611.9%Q1 2026-27, first estimate

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Excel (Data → From Web): https://india.tf/c/eco-gfcf-031/data.csv

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R: read.csv("https://india.tf/c/eco-gfcf-031/data.csv")

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