The Indian economy grew by 6.5 per cent in real terms in the recently concluded financial year 2024-25, according to official data released by the Ministry of Statistics and Programme Implementation on Friday. The official GDP for the January-March quarter grew at 7.4 per cent during the fourth quarter of the FY25.
Economy Was Projected To Grow At 6.5%
According to NSO's second advance estimates, the country's economy was projected to grow at 6.5 per cent in 2024-25. The Reserve Bank of India had projected 6.5 per cent GDP growth for the fiscal year 2024-25.
In 2023-24, India's GDP grew by an impressive 9.2 per cent, continuing to be the fastest-growing major economy.
According to official data, the economy grew 8.7 per cent and 7.2 percent, respectively, in 2021-22 and 2022-23.
The Ministry of Finance, in a report in March 2025, anticipated that Indian economy would achieve a growth rate of 6.5 per cent in 2024-25, despite considerable external headwinds.
The Finance Ministry monthly report added that the performance of the economy in the past quarters was driven by strong agricultural and service sector performance on the supply side and a steady increase in consumption and core merchandise and services exports on the demand side.
GDP at Constant Prices
NSO further said that real GDP or GDP at Constant Prices in the fourth quarter of 2024-25 is estimated at Rs 51.35 lakh crore against Rs 47.82 lakh crore in the year-ago quarter, registering a growth rate of 7.4 per cent.
Nominal GDP in Q4 of FY2024-25 is estimated at Rs 88.18 lakh crore against Rs 79.61 lakh crore in Q4 of 2023-24, showing a growth rate of 10.8 per cent.
Real gross value added (GVA) is estimated at Rs 171.87 lakh crore in the FY 2024-25, against the FRE for the FY 2023-24 of Rs 161.51 lakh crore, registering a growth rate of 6.4 per cent.
With PTI inputs
About The Author
Comment List