GUWAHATI: India’s real Gross Domestic Product (GDP) is projected to grow at 6.5% in the 2024-25 financial year (FY25), according to a recent report from the second revised estimates of national income.
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As per the report, real GDP, or GDP at constant prices, is estimated to reach ₹187.95 lakh crore in FY25, compared to the first revised estimate of ₹176.51 lakh crore for the 2023-24 financial year (FY24).
Meanwhile, nominal GDP, or GDP at current prices, is expected to touch ₹331.03 lakh crore, marking a 9.9% growth from ₹301.23 lakh crore in FY24.
The nominal GDP growth rate of 9.9% for FY25 is an improvement over the 9.2% estimate for FY24, reflecting steady economic activity and price increases. Similarly, the real Gross Value Added (GVA) is expected to expand by 6.4% to ₹171.80 lakh crore, following an 8.6% growth in FY24 when it reached ₹161.51 lakh crore.
India’s real GDP growth for FY24 stood at 9.2%, the highest in 12 years, except for FY22, which saw a post-pandemic rebound driven by manufacturing (12.3%), construction (10.4%), and financial services (10.3%). In FY23, GDP growth was 7.6%, supported by strong performances in trade, transport, finance, and utility services.
