India’s real GDP grows at 6.5% in FY 2024-25

The National Statistics Office (NSO), under the Ministry of Statistics and Programme Implementation (MoSPI), has released the Provisional Estimates of Annual Gross Domestic Product (GDP) for the financial year 2024–25, along with the Quarterly Estimates for the January–March period (Q4) of the same year.

Key Highlights

• India’s real GDP at constant (2011–12) prices is estimated to have grown by 6.5% in FY 2024–25, reaching ₹187.97 lakh crore, compared to ₹176.51 lakh crore in 2023–24.
• At current prices, the nominal GDP has increased by 9.8%, amounting to ₹330.68 lakh crore, up from ₹301.23 lakh crore in the previous financial year.
• Real Gross Value Added (GVA) for the year is estimated at ₹171.87 lakh crore, reflecting a 6.4% growth from ₹161.51 lakh crore in FY 2023–24.
• The nominal GVA stands at ₹300.22 lakh crore, a 9.5% increase over the previous year.

GVA & GDP

• GVA is calculated by taking the total value of a producer’s output and deducting the cost of intermediate inputs (like raw materials). If we add product taxes and subtract product subsidies from GVA, we get GDP.

• GVA represents the value added by each sector, while GDP is the total value of all goods and services produced in a country.