India’s GDP to Grow at 6.4% in FY 2024-25

India’s Gross Domestic Product (GDP) is projected to grow at 6.4 percent in the fiscal year 2024-25. According to the first advance estimates of the annual gross domestic product (GDP) for the current fiscal year released by the National Statistics Office (NSO) of the Ministry of Statistics and Programme Implementation today, nominal GDP has witnessed a growth rate of 9.7 percent. In the previous fiscal year, the Provisional Estimate of GDP growth rate has been estimated at 8.2 percent, while the Nominal GDP growth rate is estimated at 9.6 percent.

The Ministry added that the Real Gross Value Added (GVA) has grown by 6.4 percent over the growth rate of 7.2 percent in FY



2023-24. Nominal GVA has shown a growth rate of 9.3 percent as compared to the growth rate of 8.5 percent in the previous financial year.

The estimates highlighted that real GVA of agriculture and allied sectors is estimated to grow by 3.8 percent, a marked increase from the previous year’s 1.4 percent. The construction sector and the financial, real estate, and professional services sectors are also expected to experience strong growth. The construction sector’s real GVA is projected to rise by 8.6 percent. Similarly, the financial, real estate, and professional services sector is expected to grow by 7.3 percent.