New Delhi, 28 February (IANS). India’s real GDP growth rate has increased to 6.2 percent in the third quarter of FY 2024-25, which was 5.6 percent (revised estimates) in the earlier quarter. This information was given by the Ministry of Statistics on Friday.
According to the ministry data, the nominal GDP growth rate is estimated to be 9.9 percent in the third quarter of FY 2024-25.
According to estimates released by the government, India’s real GDP growth is estimated to be 6.5 percent in FY 2024-25. During this period, the nominal GDP growth rate for the current financial year is estimated to be 9.9 percent.
In addition, the government has revised the GDP growth rate estimate to 5.6 percent for the second quarter (July-September) of FY 2024-25, which was 5.4 percent earlier.
Statistics stated that Real GVA (Gross Value Added) is estimated to be Rs 171.80 lakh crore in FY 2024-25, which was Rs 161.51 lakh crore in FY 2023-24. Its growth rate is estimated to be 6.4 percent in the current financial year, which was 8.6 percent in the previous financial year.
At the same time, the nominal GVA is estimated to be Rs 300.15 lakh crore for FY 2024-25, which was Rs 274.13 lakh crore in FY 2023-24. It has registered a growth of 9.5 percent on an annual basis.
In the latest data, the real GDP growth rate for FY 2023-24 has been increased to 9.2 percent, which is the fastest growth rate in the last 12 years except for FY 2021-22. During this period, the manufacturing sector saw 12.3 percent, 10.4 percent in the construction sector, 10.3 percent increase in financial, real estate and professional services sector.
Apart from this, the growth rate of construction sector in FY 2024-25 is estimated to increase at a rate of 8.6 percent, financial, real estate and professional services, 7.2 percent of the sector, 6.4 percent of the trade, hotel, transport, communication and broadcasting services sector.
-IANS
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