India’s financial system clocked a 6.5% progress in actual GDP for FY 2024-25, in response to provisional estimates launched by the Ministry of Statistics and Programme Implementation (MoSPI). The January-March quarter (This autumn) outpaced annual efficiency with a sturdy 7.4% rise, signaling continued restoration momentum.
Whereas India’s GDP progress accelerated to 7.4% within the final quarter of 2024-25, the general fiscal yr variety of 6.5% was a 4-year low. In 2023-24, India’s GDP grew by a powerful 9.2 per cent, persevering with to be the fastest-growing main financial system. Based on official information, the financial system grew 8.7 per cent and seven.2 p.c, respectively, in 2021-22 and 2022-23.
Nominal GDP surged by 9.8% over the earlier yr, reaching ₹330.68 lakh crore, whereas actual GDP at fixed costs touched ₹187.97 lakh crore. The fourth quarter alone noticed nominal GDP bounce 10.8% to ₹88.18 lakh crore.
The information, issued by the Nationwide Statistics Workplace, highlights key drivers behind this growth. The development sector led with a 9.4% annual progress, adopted by public administration, defence & different companies at 8.9%, and monetary, actual property & skilled companies at 7.2%. For This autumn, development accelerated additional to 10.8%.
Personal Remaining Consumption Expenditure, a barometer of home demand, grew by 7.2% for the yr. Gross Fastened Capital Formation additionally mirrored resilience, increasing by 7.1% yearly and 9.4% in This autumn.
The first sector, encompassing agriculture, forestry, and mining, posted a 4.4% progress in comparison with 2.7% a yr in the past. This autumn noticed a pointy uptick to five%, from a mere 0.8% in the identical quarter final yr.
Actual Gross Worth Added (GVA) stood at ₹171.87 lakh crore, exhibiting a 6.4% progress year-on-year. Nominal GVA reached ₹300.22 lakh crore, marking a 9.5% improve.
The estimates had been compiled utilizing a spread of indicators, together with the Index of Industrial Manufacturing, monetary efficiency of listed firms, crop and livestock information, and tax collections. Officers famous that improved information protection and enter revisions could result in future changes.
The Reserve Financial institution of India (RBI), in its final financial coverage assembly, projected GDP progress for the complete monetary yr (FY25) at 6.6 p.c. For the March quarter (Q4FY25), the central financial institution forecast progress at 7.2 p.c.
The GDP information comes at a time when the Narendra Modi authorities has been speaking about India turning into the 4th largest financial system this yr. Based on IMF estimates, India will overtake Japan by the top of 2025-26 to say the tag of the 4th largest financial system after the US, China and Germany.
The subsequent GDP replace, for the April-June quarter of FY 2025-26, is scheduled for launch on August 29.
