India’s financial system clocked a 6.5% progress in actual GDP for FY 2024-25, in line with provisional estimates launched by the Ministry of Statistics and Programme Implementation (MoSPI). The January-March quarter (This fall) 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 info, issued by the Nationwide Statistics Workplace, highlights key drivers behind this enlargement. The development sector led with a 9.4% annual progress, adopted by public administration, defence & different providers at 8.9%, and monetary, actual property & skilled providers at 7.2%. For This fall, development accelerated additional to 10.8%.
Non-public Last Consumption Expenditure, a barometer of home demand, grew by 7.2% for the yr. Gross Mounted Capital Formation additionally mirrored resilience, increasing by 7.1% yearly and 9.4% in This fall.
The first sector, encompassing agriculture, forestry, and mining, posted a 4.4% progress in comparison with 2.7% a yr in the past. This fall 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, displaying 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 variety of indicators, together with the Index of Industrial Manufacturing, monetary efficiency of listed corporations, 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 changing into the 4th largest financial system this yr. Based on IMF estimates, India will overtake Japan by the top of 2025-26 to assert the tag of the 4th largest financial system after the US, China and Germany.
The following GDP replace, for the April-June quarter of FY 2025-26, is scheduled for launch on August 29.
