Economic Growth - Real GDP is estimated to grow by 6.7% in Q1 of FY 2024-25 compared to 8.2% in Q1 of FY 2023-24[2] - Nominal GDP growth rate is 9.7% in Q1 of FY 2024-25, up from 8.5% in Q1 of FY 2023-24[2] - Real GVA growth is 6.8% in Q1 of FY 2024-25, down from 8.3% in Q1 of FY 2023-24[2] Sector Performance - The Secondary Sector shows significant growth at 8.4%, driven by Construction (10.5%), Electricity, Gas, Water Supply & Other Utility Services (10.4%), and Manufacturing (7.0%)[2] - Nominal GVA growth for Q1 of FY 2024-25 is estimated at 9.8%, compared to 8.2% in Q1 of FY 2023-24[2] Expenditure Components - Private Final Consumption Expenditure (PFCE) grew by 7.4% and Gross Fixed Capital Formation (GFCF) by 7.5% in Q1 of FY 2024-25[2] - Net Taxes at Current Prices grew by 8.0% in Q1 of FY 2024-25, resulting in a 0.1% point gap between GVA and GDP growth rates[3] GDP Estimates - Real GDP at Constant Prices for Q1 of FY 2024-25 is estimated at ₹43.64 lakh crore, compared to ₹40.91 lakh crore in Q1 of FY 2023-24[4] - Nominal GDP at Current Prices for Q1 of FY 2024-25 is estimated at ₹77.31 lakh crore, up from ₹70.50 lakh crore in Q1 of FY 2023-24[4] Sectoral Composition - The sectoral composition of Nominal GVA in Q1 of FY 2024-25 includes Public Administration, Agriculture, and Services, with Services contributing 26%[6]
PRESS NOTE ON ESTIMATES OF GROSS DOMESTIC PRODUCT FOR THE FIRST QUARTER (APRIL - JUNE) OF 2024-25
GOVERNMENT OF INDIA·2024-08-29 16:01