Page 13 - Policy Economic Report_Jan 25
P. 13
POLICY AND ECONOMIC REPORT
OIL & GAS MARKET
6. Indian Economy
India’s economic growth
The National Statistics Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI),
released the First Advance Estimates of Annual Gross Domestic Product (GDP) for the Financial Year (FY)
2024-25 on 7th January 2025. The key highlights of the same are as under: -
? Real GDP has been estimated to grow by 6.4% in FY 2024-25 as compared to the growth rate of
8.2% in Provisional Estimate (PE) of GDP for FY 2023-24. Nominal GDP has witnessed a growth
rate of 9.7% in FY 2024-25 over the growth rate of 9.6% in FY 2023-24.
? Real GVA has grown by 6.4% in FY 2024-25 over the growth rate of 7.2% in FY 2023-24.
? Nominal GVA has shown a growth rate of 9.3% in FY 2024-25 as compared to the growth rate of
8.5% in FY 2023-24.
Figure 5: Annual GDP and GVA estimates along with y-o-y growth rates
Source- NSO, MoSPI
? Real GVA of Agriculture and allied sector has been estimated to grow by 3.8% during 2024-25 as
compared to the growth of 1.4% witnessed during the last year that is 2023-24.
? Real GVA of ‘Construction’ sector and ‘Financial, Real Estate & Professional Services’ sector has
been estimated to observe good growth rates of 8.6% and 7.3%, respectively during the FY 2024-
25.
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