The National Statistics Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) in its latest data has showed that India’s real gross domestic product (GDP) growth for the January-March quarter (Q4) of financial year 2024-25 (FY25) stood at 7.4 per cent. The growth in Q4 FY25 was lower than the 8.4 per cent expansion in the year-ago quarter. The government has revised upward growth estimate the October-December quarter (Q3) at 6.4 per cent from earlier estimate of 6.2 per cent, which marked a recovery from the previous quarter, when GDP growth fell to a seven-quarter low of 5.4 per cent in Q2 FY25. Real GDP growth for the full year that ended on March 31, 2025 is estimated at 6.5 per cent, against 9.2 per cent in FY24.
As per the data, real GDP or GDP at Constant Prices in Q4 of FY 2024-25 is estimated at Rs 51.35 lakh crore, against Rs 47.82 lakh crore in Q4 of FY 2023-24, registering a growth rate of 7.4%. Nominal GDP or GDP at Current Prices in Q4 of FY 2024-25 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%. Real GVA in Q4 of FY 2024-25 is estimated at Rs 45.76 lakh crore, against Rs 42.86 lakh crore in Q4 of FY 2023-24, registering a growth rate of 6.8%. Nominal GVA in Q4 of FY 2024-25 is estimated at Rs 79.46. lakh crore, against Rs 72.51 lakh crore in Q4 of FY 2023-24, showing a growth rate of 9.6%.
Key sectors driving growth include construction, public administration and defence, and financial services. ‘Construction’ sector is estimated to record a growth rate of 9.4% in FY 2024-25, followed by 8.9% growth rate in ‘Public Administration, Defence & Other Services’ sector and 7.2% growth rate in ‘Financial, Real Estate & Professional Services’ sector. During Q4 of FY 2024-25, ‘Construction’ sector has witnessed 10.8% growth rate, followed by 8.7% growth rate in ‘Public Administration, Defence & Other Services’ sector and 7.8% growth rate in ‘Financial, Real Estate & Professional Services’ sector.
Primary Sector has seen 4.4% growth rate in FY25 as compared to growth rate of 2.7% observed in previous financial year. During Q4, FY 2024-25, this sector has observed 5.0% growth rate as compared to 0.8% growth rate in Q4 of previous financial year. Private Final Consumption Expenditure (PFCE) has reported 7.2% growth rate during FY 2024-25 as compared to 5.6% growth rate in the previous financial year. Gross Fixed Capital Formation (GFCF) has recorded 7.1% growth rate during FY 2024-25 and 9.4% growth rate in Q4, FY 2024-25.
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