Page 13 - Policy Economic Report - December 2024

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

5. Indian Economy

India’s economic growth

• According to data released by Ministry of Statistics & Programme Implementation, real GDP, or
GDP at Constant Prices in Q2 of 2024-25 is estimated at ?44.10 lakh crore, against ?41.86 lakh
crore in Q2 of 2023-24, showing a growth rate of 5.4%.

• Nominal GDP or GDP at Current Prices in Q2 of 2024-25 is estimated at ?76.60 lakh crore,
against ?70.90 lakh crore in Q2 of 2023-24, showing a growth rate of 8.0%.

• Real GVA in Q2 of 2024-25 is estimated at ?40.58 lakh crore, against ?38.42 lakh crore in Q2 of
2023-24, showing a growth rate of 5.6%.

• Nominal GVA in Q2 of 2024-25 is estimated at ?69.54 lakh crore, against ?64.35 lakh crore in Q2
of 2023-24, showing a growth rate of 8.1%.

Figure 8: Quarterly GDP Estimates along with Y-o-Y Growth Rates from Q1 FY 2021-22 to Q2 FY 2024-
25 at Constant Prices

Source- MoSPI Page | 12

December 2024