Q3 FY25 GDP grows at 6.2%; India sees ‘highest development in 12 years’ in FY24 – high 10 knowledge factors to know

India Q3 GDP knowledge FY 2024-25: The Indian economic system noticed the Gross Home Product (GDP) increase at 6.2% within the third quarter of the present monetary yr 2024-25, with economists stating that the worst of the slowdown is over. India’s GDP for the second quarter had slowed to five.6% elevating issues on the expansion prospects of the world’s quickest rising main economic system.
Apparently, the federal government knowledge launched by the Ministry of Statistics and Program Implementation additionally revises the total yr GDP development figures for FY 2023-24 to the ‘highest degree in 12 years’ apart from the submit COVID yr which was excessive as a result of base impact. We check out the highest 10 knowledge factors from the GDP development numbers:
1.Actual GDP development for Q3: Actual GDP is projected to have expanded by 6.2% throughout the third quarter of FY 2024-25. The Nominal GDP in Q3 of FY 2024-25 reveals an estimated improve of 9.9%. Following an upward revision, the true GDP development for the second quarter of economic yr 2024-25 now stands at 5.6%.

2. Actual GDP development for FY 2024-25: The revised estimates point out an upward adjustment in India’s actual GDP development, projected at 6.5% for FY 2024-25. Equally, the nominal GDP development forecast has been enhanced to 9.9% for FY 2024-25. These figures symbolize an enchancment from the preliminary projections offered within the first advance estimates.
3. ‘Highest development in 12 years’: In response to the primary revised estimates, actual GDP expanded by 9.2% throughout the monetary yr 2023-24, marking the very best development price prior to now 12 years, barring monetary yr 2021-22 (the post-covid yr). This sturdy efficiency was pushed by substantial development throughout key sectors, with ‘Manufacturing’ attaining 12.3%, ‘Development’ reaching 10.4%, and ‘Monetary, Actual Property & Skilled Companies’ attaining 10.3%.

4.Per Capita Earnings: The Per Capita Internet Nationwide Earnings, also called Per Capita Earnings, calculated at present costs, reveals figures of ₹1,69,145 for 2022-23 and ₹1,88,892 for 2023-24.
5. GDP development slowdown year-on-year: GDP development slowed to six.2 per cent throughout October-December quarter of the present fiscal yr, as in opposition to 9.5% in the identical quarter of the earlier fiscal yr. That is primarily attributed to underperformance in mining and manufacturing sectors, while agriculture remained the only brilliant spot. However, when in comparison with the earlier quarter’s development of 5.6 per cent, the third quarter demonstrated an enchancment in financial exercise.
6. Actual GDP for FY 25: The true GDP or GDP at Fixed Costs is projected to succeed in ₹187.95 lakh crore throughout fiscal yr 2024-25, in comparison with the primary revised estimate of ₹176.51 lakh crore for 2023-24. The nominal GDP or GDP at Present Costs is anticipated to develop by 9.9%, reaching ₹331.03 lakh crore in 2024-25, up from ₹301.23 lakh crore in 2023-24.
7. Actual GVA for FY 25: The true GVA is projected to succeed in ₹171.80 lakh crore in 2024-25, in comparison with the primary revised estimate of ₹161.51 lakh crore for 2023-24, indicating a development of 6.4%, which is decrease than the 8.6% development noticed in 2023-24. The nominal GVA is anticipated to attain ₹300.15 lakh crore in FY 2024-25, in distinction to ₹274.13 lakh crore in 2023-24, demonstrating a development price of 9.5%.
8. Quarterly Sector-wise knowledge: The manufacturing sector’s GVA development declined to three.5 per cent within the third quarter, in comparison with 14 per cent within the corresponding interval final yr. The mining and quarrying sector skilled a slowdown, with development lowering to 1.4 per cent from 4.7 per cent a yr in the past.
Development exercise witnessed a lower in development price to 7 per cent, down from 10 per cent within the earlier yr. In distinction, the agricultural sector demonstrated outstanding efficiency with a 5.6 per cent development throughout the quarter, considerably greater than the 1.5 per cent development recorded in the identical interval final yr.
The utility companies phase, comprising electrical energy, gasoline, water provide and different companies, registered a development of 5.1 per cent within the third quarter, displaying a decline from 10.1 per cent development achieved within the corresponding interval of the earlier yr.
9. Vital annual projections: The development sector is projected to increase by 8.6% in 2024-25. That is anticipated to be adopted by a 7.2% development in banking, property and enterprise companies. Moreover, the commerce, hospitality, logistics, communications and broadcast-related companies sector is anticipated to develop by 6.4% throughout the identical interval.
10. Non-public Closing Consumption Expenditure: Non-public Closing Consumption Expenditure (PFCE) is projected to attain a strong enlargement of seven.6% in 2024-25, displaying vital enchancment from the 5.6% development recorded in 2023-24.