The ministry attributed the expected growth in the second half of 2025 to an uptick in agricultural and industrial activities, along with resilient rural demand
GUWAHATI: The Ministry of Statistics and Programme Implementation has projected India's GDP growth for the financial year 2024-25 (FY25) at 6.4%, a decline from the 8.2% growth recorded in 2023-24 (FY24).
ALSO READ: Supreme Court Grants Interim Bail To Asaram Bapu On Medical Grounds
The announcement was made on Tuesday, January 7, and it cites a slowdown in the first half of FY25 but also expresses optimism for recovery in the latter half. The ministry attributed the expected growth to an uptick in agricultural and industrial activities, along with resilient rural demand.
Real GDP is projected to grow by 6.4% in FY25, while nominal GDP growth is pegged at 9.7%, a slight increase from the 9.6% recorded in FY24.
Agriculture and allied sectors are expected to witness significant improvement, with Real Gross Value Added (GVA) growth estimated at 3.8% in FY25, a marked recovery from 1.4% in FY24. The construction sector is also projected to achieve an impressive GVA growth of 8.6%, while financial, real estate, and professional services are expected to grow by 7.3%.
The Economic Survey released in July last year estimated FY25 GDP growth at 6.5% to 7%. However, a mid-year review by the finance ministry in November revised this figure to around 6.5%, citing a restrictive monetary policy stance by the Reserve Bank of India and muted performance in the first half of the fiscal year.
