India records 6.2% growth in 3rd Quarter of FY 25, fastest in world
Economy
4 min read
The Indian economy grew by 6.2 percent in the third quarter (September -December) of the 2024-25 financial year. The 6.2 percent growth rate of the Indian economy in the 3rd quarter makes India the fastest-growing major economy in the world.
The National Statistics Office (NSO) under the Union Ministry of Statistics and Programme Implementation (MoSPI) released the Second Advance Estimates of the Indian economy on 28th February 2025.
The NSO also revised the growth rate of the GDP for the financial years 2022-23, 2023-24, and 2024-25.
According to the NSO, the real GDP grew by 9.2 percent in 2023-24. It is the highest growth rate achieved by the Indian economy except for 2021-22, when it grew by 9.7 percent.
The NSO also revised the estimated gross domestic product (GDP) growth rate to 6.5 percent from the first estimate of 6.4 percent in the 2024-25 financial year.
Revised Annual Growth Rate for 2024-25
Following is the second revised estimate for the financial year 2024-25
- Real GDP growth rate in 2024-25: 6.5 percent.
- Real GDP or GDP at Constant Prices: Rs 187.95 lakh crore.
- Nominal GDP growth rate in 2024-25: 9.9 percent.
- Nominal GDP or GDP at Current Prices in 2024-25: Rs 331.03 lakh crore.
Quarterly GDP Growth Rate in 2024-25
- First Quarter(April- June) growth rate: 6.5 percent.
- Second Quarter (July-September) growth rate: 5.6 percent.
- Third Quarter (October-December) growth rate: 6.2 percent.
- Growth rate of GDP in first nine months of 2024-25: 6.1 percent.
Sectoral performance in Q3
- the agriculture sector grew by 5.6 percent.
- the manufacturing sector grew by 3.5 percent.
- the construction sector grew by 7 percent.
- the service sector grew by 7.4 percent.
9.2 Percent Growth Rate in 2023-24
The NSO has revised the real GDP growth rate figure for 2023-24
- Real GDP or GDP at constant (2011-12) prices for the years 2023-24 was Rs 176.51 lakh crore. The growth rate was 9.2 percent.
- It was the second-highest growth rate recorded in the last 12 years. The GDP grew by 9.7 percent in 2021-22.
Sectoral growth rate
- Primary sector (Agriculture, Livestock, Forestry, Fishing, and Mining & Quarrying): 2.7 per Secondary sector (comprising Manufacturing, Electricity, Gas, Water Supply & Other Utility Services, and Construction): 11.4 per cent
- Tertiary (Service): 9.0 percent.
7.6 Percent GDP Growth in 2022-23
- Real GDP or GDP at constant price (2011-12) was Rs 161.65 lakh crore, a growth rate of 7.6 per cent.
Sectoral growth rate
- Primary sector: 5.9 per cent,
- Secondary sector: 2.4 per cent
- Tertiary (Service): 10.3 percent.
