{"id":170663,"date":"2025-03-01T15:35:23","date_gmt":"2025-03-01T10:05:23","guid":{"rendered":"https:\/\/www.gkseries.com\/blog\/?p=170663"},"modified":"2025-03-01T15:35:23","modified_gmt":"2025-03-01T10:05:23","slug":"indias-economic-growth-in-q3-of-fy-2024-25","status":"publish","type":"post","link":"https:\/\/www.gkseries.com\/blog\/indias-economic-growth-in-q3-of-fy-2024-25\/","title":{"rendered":"India\u2019s Economic Growth in Q3 of FY 2024-25"},"content":{"rendered":"\n

India’s economic growth has significantly improved in the third quarter (Q3) of FY 2024-25, with Real GDP rising to 6.2%, an increase from the previously reported 5.4% in the last quarter. This encouraging growth trend is supported by revised estimates, which now project India’s Real GDP growth at 6.5% for the entire financial year 2024-25. Additionally, the Nominal GDP is anticipated to grow at a rate of 9.9%, both figures being revised upwards from the First Advance Estimates.<\/p>\n\n\n\n

This article delves into the various aspects of India\u2019s economic performance, sectoral contributions, and projected growth trends for FY 2024-25<\/strong>.<\/p>\n\n\n\n

India\u2019s Real and Nominal GDP Growth in Q3 of FY 2024-25<\/h3>\n\n\n\n

Real GDP Growth<\/strong><\/p>\n\n\n\n

The Real GDP (GDP at Constant Prices) for the third quarter of FY 2024-25 is estimated to be Rs 47.17 lakh crore, up from Rs 44.44 lakh crore in the same quarter of FY 2023-24, indicating a growth rate of 6.2%. Furthermore, the growth rate for Real GDP in the second quarter of FY 2024-25 has been revised upward to 5.6%, an increase from the earlier estimate of 5.4%.<\/p>\n\n\n\n

Nominal GDP Growth<\/strong><\/p>\n\n\n\n

In Q3 of FY 2024-25, the Nominal GDP (GDP at Current Prices) is estimated to reach Rs 84.74 lakh crore, an increase from Rs 77.10 lakh crore in Q3 of FY 2023-24, marking a growth rate of 9.9%. This positive adjustment in estimates highlights strong economic momentum, driven by essential sectors such as Manufacturing, Construction, and Financial Services.<\/p>\n\n\n\n

Economic Performance in FY 2023-24<\/h3>\n\n\n\n

According to the First Revised Estimates<\/strong>, India\u2019s Real GDP grew by 9.2% in FY 2023-24<\/strong>, marking the highest growth in the past 12 years<\/strong>, except for the post-pandemic FY 2021-22<\/strong>.<\/p>\n\n\n\n

Key Contributors to Growth in FY 2023-24<\/strong><\/p>\n\n\n\n

    \n
  1. Manufacturing Sector<\/strong>: Registered an impressive\u00a0growth of 12.3%<\/strong>.<\/li>\n\n\n\n
  2. Construction Sector<\/strong>: Showed a\u00a0growth rate of 10.4%<\/strong>.<\/li>\n\n\n\n
  3. Financial, Real Estate & Professional Services<\/strong>: Recorded a\u00a0growth rate of 10.3%<\/strong>.<\/li>\n<\/ol>\n\n\n\n

    These double-digit growth rates<\/strong> played a crucial role in India\u2019s overall economic expansion<\/strong> during FY 2023-24<\/strong>.<\/p>\n\n\n\n

    Sectoral Growth Projections for FY 2024-25<\/h3>\n\n\n\n

    The sector-wise growth projections for FY 2024-25<\/strong> highlight key drivers of the Indian economy:<\/p>\n\n\n\n

    1. Construction Sector<\/strong><\/p>\n\n\n\n

      \n
    • Estimated to\u00a0grow at 8.6%<\/strong>\u00a0in\u00a0FY 2024-25<\/strong>, showcasing continued expansion in\u00a0infrastructure and real estate activities<\/strong>.<\/li>\n<\/ul>\n\n\n\n

      2. Financial, Real Estate & Professional Services<\/strong><\/p>\n\n\n\n

        \n
      • Expected to observe a\u00a0growth rate of 7.2%<\/strong>, indicating a robust financial and professional services industry.<\/li>\n<\/ul>\n\n\n\n

        3. Trade, Hotels, Transport, Communication & Services related to Broadcasting<\/strong><\/p>\n\n\n\n

          \n
        • This sector is projected to\u00a0grow by 6.4%<\/strong>, reflecting a positive trend in\u00a0consumer-driven services<\/strong>.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

          India’s economic growth has significantly improved in the third quarter (Q3) of FY 2024-25, with Real GDP rising to 6.2%, an increase from the previously reported 5.4% in the last quarter. This encouraging growth trend is supported by revised estimates, which now project India’s Real GDP growth at 6.5% for the entire financial year 2024-25. […]<\/p>\n","protected":false},"author":419,"featured_media":170672,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5364],"tags":[82],"offerexpiration":[],"class_list":["post-170663","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs-march-2025","tag-economy-current-affairs"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/170663","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/419"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=170663"}],"version-history":[{"count":1,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/170663\/revisions"}],"predecessor-version":[{"id":170673,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/170663\/revisions\/170673"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/170672"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=170663"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=170663"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=170663"},{"taxonomy":"offerexpiration","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/offerexpiration?post=170663"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}