GDP growth slows to 6.5% in 2024-'25, lowest since pandemic
India's real gross domestic product for the financial year 2024-'25 grew by 6.5%, showed a provisional estimate released by the Union government on Friday.
This is the slowest growth rate since the Covid-19 pandemic year of 2020-'21, The Hindu reported. In the financial year 2023-'24, the country's real gross domestic product was 9.2%.
The real GDP grew by 7.4% in the fourth quarter of 2024-'25, showed a report by the Ministry of Statistics and Programme Implementation. The growth between January and March was lower than the 8.4% expansion during the same period in the previous financial year.
India's primary sector, which includes agriculture and related activities, grew by 4.4% in 2024-'25. This was higher than the 2.7% growth in the previous financial year.
The private final consumption expenditure, a key indicator of demand, rose by 7.2% in FY25, up from 5.6% in the previous year.
The economic growth data for the first quarter of the financial year 2025-'26 is expected to be released in August.
India's gross domestic product had grown by 6.2% in the third quarter of 2024-'25, recovering from a seven-quarter low of 5.4% in the second quarter. The rebound was driven by strong performance in the services sector and higher government capital spending. In quarter one, the gross domestic growth was recorded at 6.7%.
expected to cut the repo rate for the third time in a row to boost growth, Business Standard reported.
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