India's Gross Domestic Product or GDP for the third quarter or Q3 of FY25 or Fiscal year 2024-2025 rose to 6.2 per cent. This is higher the second quarter's or Q2FY25's 5.4 per cent.
India's Q3 GDP Rises
Gross Domestic Product or GDP, the foremost means of measuring the growth of country. The GDP of a territory or state in a given period of time, essentially includes the four components, Government Expenditure, Business Investment, Domestic Consumption and Net Export balance.
The real GDP Growth Rate of 9.2 per cent for 2023-24 is the highest in the previous 12 years except for 2021-22.
The country's GVA or Gross Value Added, stood at 6.2 per cent. Real GVA in Q3 of FY 2024-25 is estimated at Rs 43.13 lakh crore. The nominal GVA for the same period is projected at Rs 77.06 lakh crore, marking a 10.2 per cent increase from Rs 69.90 lakh crore in the previous year.
The GVA is a measure of the value of goods and services produced in an economy, ie a component that measures the output of the economy.
The construction sector is estimated to observe a growth rate of 8.6 per cent. This is followed by ‘Financial, Real Estate & Professional Services’ sector at 7.2 per cent, followed by ‘Trade, Hotels, Transport, Communication & Services related to Broadcasting’ sector growing at 6.4 per cent.
The real GDP in Q3 of FY 2024-25 is estimated at Rs 47.17 lakh crore, against Rs 44.44 lakh crore in Q3 of the previous fiscal year.
Sectoral Growth
When we look at sectors specifically, the manufacturing sector slowed down, compared to other sectors.
The sector-wise growth of the Real GVA for manufacturing stood at 14 per cent last fiscal year, compared to this fiscal year's 3.5 per cent.
Meanwhile, agriculture, Livestock, Forestry and Fishing GVA grew. The output for 2024-24 stood at 5.6 per cent compared to 1.5 per cent in the previous fiscal year.
