Real GDP grows 5.4% in Q2 (July–September) of 2024-25: NSO
On 29 November 2024 in New Delhi, the National Statistics Office estimated India's real GDP growth for July–September 2024 (Q2 of 2024-25) at 5.4%, down from 8.1% a year earlier.
Summary
On 29 November 2024 in New Delhi, the National Statistics Office (NSO) of the Ministry of Statistics and Programme Implementation released quarterly GDP estimates for July–September (Q2) of 2024-25. Real GDP grew 5.4%, against 8.1% in Q2 of 2023-24; real GDP was estimated at ₹44.10 lakh crore. Nominal GDP grew 8.0% to ₹76.60 lakh crore. Real Gross Value Added (GVA) grew 5.6%. Manufacturing grew only 2.2% and mining and quarrying contracted 0.1%, while agriculture and allied activities bounced back to 3.5% after growth of 0.4% to 2.0% in the previous four quarters. Construction grew 7.7% and the tertiary sector 7.1%. Private Final Consumption Expenditure grew 6.0%. For April–September (H1) 2024-25, real GDP grew 6.0% and real GVA 6.2%.
Key facts
- Q2 2024-25 real GDP
- 5.4% (₹44.10 lakh crore); Q2 2023-24: 8.1%
- Nominal GDP
- 8.0% (₹76.60 lakh crore)
- Real GVA
- 5.6%
- Sectors
- Manufacturing 2.2%; Mining −0.1%; Agriculture 3.5%; Construction 7.7%; Tertiary 7.1%
- H1 2024-25
- Real GDP 6.0%; real GVA 6.2%; PFCE Q2 6.0%
Practice MCQs 3 questions
According to NSO estimates released on 29 November 2024, India's real GDP grew by how much in Q2 (July–September) of 2024-25?
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Correct answer: B — 5.4%
PIB (MoSPI): real GDP grew 5.4% in Q2 of 2024-25, against 8.1% in Q2 of 2023-24. 6.0% was the H1 growth.
Consider the following statements about the Q2 2024-25 GDP estimates: 1. Manufacturing grew by 2.2% in Q2 of 2024-25. 2. Agriculture and allied sector grew by 3.5%, after growth of 0.4% to 2.0% in the previous four quarters. Which of the statements given above is/are correct?
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Correct answer: C — Both 1 and 2
PIB (MoSPI): manufacturing grew 2.2%, and agriculture bounced back to 3.5% after sub-optimal growth of 0.4% to 2.0% in the previous four quarters. Both are correct.
What was the growth rate of nominal GDP (GDP at current prices) in Q2 of 2024-25, as estimated on 29 November 2024?
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Correct answer: A — 8.0%
PIB (MoSPI): nominal GDP in Q2 of 2024-25 was ₹76.60 lakh crore against ₹70.90 lakh crore, a growth of 8.0%. 8.9% was H1 nominal growth.