India’s GDP growth rate 6.5% for FY 2024-25, lowest in last four years
The pace of the Indian economy has slowed down as at the end of the financial year 2024-25, GDP growth has reached a four-year low. The GDP growth in 2024-25 has been recorded at 6.5%.It stood at 9.2% in the previous financial year, 2023-24. While in 2021-22 and 2022-23, the economy grew at the rate of 8.7% and 7.2% respectively.According to the data of the Union Ministry of Statistics, GDP growth has been recorded at 7.4% during the fourth quarter of the financial year 2024-25. Which is much higher than the Finance Ministry’s estimate of 6.7% for this quarter. However, it has been lower than the growth rate of 8.4% in the same period last year.At the end of 2024-25, India’s GDP was ₹189.97 lakh crore, and the population was recorded at 140.8 crore. According to NSO data, the per capita GDP at constant prices of 2011-12 is ₹1,33,501. This represents an increase of 5.5% compared to ₹1,26,528 last year. However, the per capita income of the people increased by 8.2% in 2023-24.Financial, real estate and professional services increased by 7.2% compared to 10.3%, trade, hotel, transport, communication services increased by 6.1% compared to 7.5%, electricity, gas, water supply increased by 5.9% compared to 8.6%, agriculture increased by 4.6% compared to 2.7%, manufacturing increased by 4.5% compared to 12.3% and mining increased by 2.5% compared to 3.2%.
The pace of the Indian economy has slowed down as at the end of the financial year 2024-25, GDP growth has reached a four-year low. The GDP growth in 2024-25 has been recorded at 6.5%.
It stood at 9.2% in the previous financial year, 2023-24. While in 2021-22 and 2022-23, the economy grew at the rate of 8.7% and 7.2% respectively.
According to the data of the Union Ministry of Statistics, GDP growth has been recorded at 7.4% during the fourth quarter of the financial year 2024-25. Which is much higher than the Finance Ministry’s estimate of 6.7% for this quarter. However, it has been lower than the growth rate of 8.4% in the same period last year.
At the end of 2024-25, India’s GDP was ₹189.97 lakh crore, and the population was recorded at 140.8 crore. According to NSO data, the per capita GDP at constant prices of 2011-12 is ₹1,33,501. This represents an increase of 5.5% compared to ₹1,26,528 last year. However, the per capita income of the people increased by 8.2% in 2023-24.
Financial, real estate and professional services increased by 7.2% compared to 10.3%, trade, hotel, transport, communication services increased by 6.1% compared to 7.5%, electricity, gas, water supply increased by 5.9% compared to 8.6%, agriculture increased by 4.6% compared to 2.7%, manufacturing increased by 4.5% compared to 12.3% and mining increased by 2.5% compared to 3.2%.
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