India is estimated to grow at 6.4 per cent in fiscal year 2024-25, Government said on Tuesday. The growth rate based on changes in Gross Domestic Products (GDP) was 8.2 per cent in Fiscal Year 2023-24.
Real Gross Value Added (GVA) has grown by 6.4 per cent in FY 25 over the growth rate of 7.2 per cent in FY24. Nominal GVA has shown a growth rate of 9.3 per cent as compared to the growth rate of 8.5 per cent Real GVA of Agriculture and allied sector has been estimated to grow by 3.8 per cent as compared to the growth of 1.4 per cent witnessed during the last year, i.e., 2023-24.
Real GVA of ‘Construction’ sector and ‘Financial, Real Estate & Professional Services’ sector has been estimated to observe good growth rates of 8.6 per cent and 7.3 per cent, respectively during the FY 2024-25. Private Final Consumption Expenditure (PFCE) at constant prices, has witnessed a growth rate of 7.3 per cent over the growth rate of 4 per cent in the previous Financial Year.
Government Final Consumption Expenditure (GFCE) at constant prices, has rebounded to a growth rate of 4.1 per cent as compared to the growth rate of 2.5 per cent in the previous Financial Year.