India’s economic growth rate has increased to 6.2% in the third quarter of FY 2025. This rate was 5.4% in the second quarter. That is, the economy of the country has recovered compared to the last quarter. Economy received support for strong rural consumption and increase in government expenditure after good monsoon. This information was given in the data of the National Statistics Office (NSO) released on Friday. However, on an annual basis, the growth rate has decreased. This rate was 9.5 percent in the same quarter last year. The growth rate of real GDP for the second quarter of the financial year 2024-25 has been revised to 5.6%.
Growth rate estimates for 2024-25
The NSO has estimated the country’s growth rate of 6.5 percent for 2024-25 in its second advance estimate of national accounts. It had estimated an increase of 6.4 percent for the current financial year in its first advance estimate released in January 2025. The NSO also amended the GDP growth for 2023-24 to 9.2 percent of the estimate of 8.2 percent.
Actual GDP estimate
The latest data states that GDP is estimated to reach a level of ₹ 187.95 lakh crore on real GDP or stable prices in FY 2024-25, while the first revised estimate of GDP for the year 2023-24 is ₹ 176.51 lakh crore. Similarly, the growth rate in the actual GDP during 2024–25 is estimated at 6.5%, while in 2023-24 it was 9.2%. GDP at nominal GDP or current values is estimated to reach a level of ₹ 331.03 lakh crore in the year 2024-25, compared to ₹ 301.23 lakh crore in 2023-24, indicating a growth rate of 9.9%.
Real GDP in FY 2023-24
According to the first revised estimate, real GDP has increased by 9.2% in FY 2023-24, the highest in the last 12 years except for FY 2021–22 (year after Kovid). This growth contributes a growth rate of double digit growth in the ‘manufacturing’ sector (12.3%), ‘construction’ sector (10.4%) and ‘Financial, Real Estate and Professional Services’ sector (10.3%).
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