Economic growth data based on changes in the value of Gross Domestic Products (GDP) for Fiscal Year 2027-28 (FY28) likely to include results of latest round of All India Debt and Investment Survey (AIDIS), officials said.
For the first time after Covid, the latest round of AIDIS is scheduled to be conducted from July 2026 to June 2027. It is one of the flagship surveys conducted by National Statistics Office (NSO), under the Statistics and Programme Implementation Ministry (MoSPI). Origins of AIDIS can be tracked back to the All-India Rural Credit Survey (1951-52), later expanded to cover both debt and investment in 1961-62.
Since then, the NSO has conducted AIDIS roughly once every decade, most recently in the 77th Round (2019) at the request of the Reserve Bank of India (RBI). The survey provides critical data on household indebtedness and asset ownership across both rural and urban areas. Its findings are instrumental in shaping national accounts, assessing inequality in asset distribution, understanding credit markets and informing policies of the RBI, MoSPI and other government institutions.
The survey is critical to understand consumption pattern especially at a time when the share of Private Final Consumption Expenditure (PFCE) in GDP has improved to 62.5 per cent in July-September quarter of FY26 from 62.2 per cent during corresponding period of FY25 while its growth in constant price terms improved from 6.4 per cent to 7.9 per cent during the corresponding period.
Finance Minister Nirmala Sitharaman, in a written reply during just concluded winter session of the Lok Sabha, highlighted that the government has undertaken a multi-pronged strategy to stimulate consumption growth in the economy through a combination of demand-supporting measures, income-enhancing supply-side strategies and structural reforms.
“Policies measures such as the new income tax exemption for annual incomes up to ₹12 lakh, recent GST rate rationalisation, continued emphasis on ease of doing business, skilling, employment generation and infrastructure development, along with expanded access to credit through schemes like MUDRA and PMSVANidhi, are expected to boost consumption growth in the economy,” she said.
Finding of AIDIS will help in understanding fixed capital formation, a key input in estimating GDP, reflecting household investments in assets such as property and other durable goods. AIDIS is expected to know how such measures have helped Indian households in managing their finance. Also, whether the consumption is getting boost mainly on account of credit or it is the combination of credit and saving. The survey is expected to find investment pattern of various economic groups of the society. This is important as, according to SEBI Chairman Tuhin K Pandey, almost every day nearly one lakh Demat accounts are being opened.
As on October 1, there are more than 21 crore Demat accounts of nearly 13.6 crore investors. Also, the mutual fund saw an investment of ₹80 lakh crore, recording a growth of more than 7 times in a decade. An investor survey has brought to light the fact that though 63 per cent of households are aware of products of the securities market, only 9.5 per cent of them are investing.
GDP data for FY28 will have a base year of 2022-23. Its first projection will be made public in the Economic Survey of Fiscal Year 2026-27.
