MoSPI: GDP growth estimated at 6.5% for 2024-25; Q3 growth 6.2%; 2023-24 revised to 9.2%
The National Statistics Office (MoSPI) on 28 February 2025 released the Second Advance Estimates putting real GDP growth for 2024-25 at 6.5%, with growth of 6.2% in the October–December quarter.
Summary
The National Statistics Office (NSO) of the Ministry of Statistics and Programme Implementation released the Second Advance Estimates of GDP for 2024-25 on 28 February 2025, along with Q3 (October–December) estimates and revised figures for earlier years. Real GDP is estimated to grow 6.5% in 2024-25 to ₹187.95 lakh crore, and nominal GDP 9.9% to ₹331.03 lakh crore, both revised up from the First Advance Estimates. Real GDP grew 6.2% in Q3, and Q2 growth was revised up to 5.6%. Under the First Revised Estimates, real GDP grew 9.2% in 2023-24, the highest in 12 years except 2021-22, led by manufacturing (12.3%). Construction is expected to grow 8.6% in 2024-25, and private final consumption expenditure 7.6%. The estimates use 2011-12 as the base year.
Key facts
- Released
- 28 February 2025, NSO (MoSPI)
- 2024-25 real GDP growth (SAE)
- 6.5%
- Q3 2024-25 real GDP growth
- 6.2%
- Q2 revised
- 5.6%
- 2023-24 (FRE)
- 9.2%, highest in 12 years except 2021-22
- Nominal GDP 2024-25
- ₹331.03 lakh crore (9.9%)
- PFCE growth 2024-25
- 7.6%
Practice MCQs 5 questions
What real GDP growth rate for the October–December 2024 quarter (Q3 of 2024-25) did MoSPI estimate on 28 February 2025?
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Correct answer: C — 6.2%
Real GDP grew 6.2% in Q3 of 2024-25; 6.5% is the full-year estimate and 5.6% the revised Q2 growth.
What real GDP growth for 2024-25 was estimated in the Second Advance Estimates released on 28 February 2025?
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Correct answer: B — 6.5%
The Second Advance Estimates put real GDP growth for 2024-25 at 6.5%, revised up from the First Advance Estimates.
As per the First Revised Estimates released on 28 February 2025, India's real GDP growth in 2023-24 was:
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Correct answer: C — 9.2%
Real GDP grew 9.2% in 2023-24, the highest in the previous 12 years except 2021-22; 8.6% was real GVA growth that year and 7.6% the final 2022-23 growth.
According to MoSPI's estimates of 28 February 2025, Private Final Consumption Expenditure is expected to grow by how much in 2024-25?
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Correct answer: C — 7.6%
PFCE is expected to grow 7.6% in 2024-25, compared with 5.6% in 2023-24.
Consider the following statements about the national accounts estimates released by the NSO on 28 February 2025: 1. Real GDP growth of 9.2% in 2023-24 is the highest in the previous 12 years except for 2021-22. 2. The growth rate of real GDP for Q2 of 2024-25 was revised upward to 5.6%. 3. Construction is expected to be the fastest-growing sector in 2024-25 at 10.4%. Which of the statements given above is/are correct?
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Correct answer: C — 1 and 2 only
Statements 1 and 2 are correct. Statement 3 is wrong: construction is estimated to grow 8.6% in 2024-25; 10.4% was its growth in 2023-24.