India’s Real Gross Domestic Product (GDP) for the financial year 2024-25 is estimated to grow by 6.5 percent, while Nominal GDP is projected to expand by 9.8 percent over the previous year. In the fourth quarter (Q4) of FY 2024-25 alone, Real GDP has grown by 7.4 percent, and Nominal GDP has seen a rise of 10.8 percent year-on-year.
Among sectors, Construction has emerged as a strong performer, posting a growth of 9.4 percent in FY 2024-25 and an even higher 10.8 percent in Q4. This is followed by Public Administration, Defence & Other Services, which recorded an annual growth of 8.9 percent and 8.7 percent in the fourth quarter. The Financial, Real Estate & Professional Services sector also maintained momentum, growing by 7.2 percent annually and 7.8 percent in Q4.
The Primary Sector saw a notable improvement, registering a growth of 4.4 percent in FY 2024-25 compared to 2.7 percent in the previous fiscal. In Q4 alone, this sector reported a growth of 5.0 percent, a substantial rise from 0.8 percent in the same period last year.
In terms of expenditure, Private Final Consumption Expenditure (PFCE) increased by 7.2 percent in FY 2024-25, up from 5.6 percent in FY 2023-24. Gross Fixed Capital Formation (GFCF), a measure of investment in fixed assets, rose by 7.1 percent during the year and 9.4 percent in Q4.
Annual Estimates (FY 2024-25)
Real GDP (at constant prices) for FY 2024-25 is projected at ₹187.97 lakh crore, up from ₹176.51 lakh crore in FY 2023-24, marking a 6.5 percent increase. Nominal GDP (at current prices) is estimated at ₹330.68 lakh crore, compared to ₹301.23 lakh crore in the previous year, reflecting a 9.8 percent growth.
Real GVA is projected at ₹171.87 lakh crore, showing a 6.4 percent rise from ₹161.51 lakh crore in FY 2023-24. Nominal GVA is expected to touch ₹300.22 lakh crore, up 9.5 percent from ₹274.13 lakh crore in the previous year.
Quarterly Estimates (Q4 FY 2024-25)
Real GDP stands at ₹51.35 lakh crore, a 7.4 percent increase from ₹47.82 lakh crore in Q4 of FY 2023-24. Similarly, the nominal GDP is estimated at ₹88.18 lakh crore, growing 10.8 percent from ₹79.61 lakh crore in the same quarter last year.
Real GVA is at ₹45.76 lakh crore, reflecting a 6.8 percent growth over ₹42.86 lakh crore in Q4 FY 2023-24. Likewise, the nominal GVA reached ₹79.46 lakh crore, registering a 9.6 percent increase from ₹72.51 lakh crore in the same quarter of the previous year.
Cover photo: www.freepik.com
