NSO's First Advance Estimates put 2024-25 real GDP growth at 6.4%
Growth is down from 8.2% in 2023-24; nominal GDP is estimated to grow 9.7%.
Summary
The National Statistics Office (NSO) released the First Advance Estimates of GDP for 2024-25 on 7 January 2025, estimating real GDP growth at 6.4% against 8.2% in the Provisional Estimate for 2023-24. The NSO estimated nominal GDP growth at 9.7%, with real GDP at ₹184.88 lakh crore and nominal GDP at ₹324.11 lakh crore. Real GVA was estimated to grow 6.4%, with agriculture and allied sectors at 3.8% (from 1.4%), construction at 8.6%, and private final consumption expenditure at 7.3%.
Key facts
- Released
- 7 January 2025, NSO (MoSPI)
- Real GDP growth 2024-25
- 6.4% (2023-24 PE: 8.2%)
- Nominal GDP growth
- 9.7%
- Levels
- Real ₹184.88 lakh crore; nominal ₹324.11 lakh crore
- Real GVA growth
- 6.4% (7.2% in 2023-24)
- Sectors
- Agriculture 3.8%; Construction 8.6%; Financial, real estate & professional services 7.3%
- Demand
- PFCE 7.3%; GFCE 4.1%
Practice MCQs 3 questions
What real GDP growth rate for 2024-25 did the NSO's First Advance Estimates, released on 7 January 2025, project?
Show answer
Correct answer: D — 6.4%
PIB (MoSPI): real GDP is estimated to grow by 6.4% in 2024-25, against 8.2% in the Provisional Estimate for 2023-24.
As per the First Advance Estimates for 2024-25, what is the estimated growth of real GVA in agriculture and allied sectors?
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Correct answer: A — 3.8%
PIB (MoSPI): real GVA of agriculture and allied sectors is estimated to grow by 3.8% in 2024-25, against 1.4% in 2023-24.
Consider the following statements about the First Advance Estimates of GDP for 2024-25: 1. Nominal GDP is estimated to grow by 9.7%. 2. Private Final Consumption Expenditure at constant prices is estimated to grow by 4.0%. 3. Real GVA of construction is estimated to grow by 8.6%. Which of the statements given above are correct?
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Correct answer: B — 1 and 3 only
PIB (MoSPI): nominal GDP 9.7% and construction 8.6% are correct; PFCE grows 7.3% in 2024-25 (4.0% was the previous year's rate).