New Delhi, May 30: India’s economy expanded by 6.5% in real terms during the financial year 2024–25, in line with expectations, according to official data released on Friday by the Ministry of Statistics and Programme Implementation (MoSPI).
The National Statistical Office (NSO), in its second advance estimates, had earlier projected this growth rate, a forecast that matched the Reserve Bank of India’s (RBI) outlook for the fiscal year. The 6.5% growth follows a robust 9.2% expansion in 2023–24, reinforcing India’s position as the world’s fastest-growing major economy.
In previous years, the economy grew by 8.7% in 2021–22 and 7.2% in 2022–23, reflecting a consistent upward trajectory in post-pandemic recovery.
A March 2025 report by the Ministry of Finance had also projected a 6.5% GDP growth rate for FY 2024–25, citing resilience despite global headwinds. The report attributed this performance to a strong showing by the agriculture and services sectors on the supply side, coupled with rising domestic consumption and robust exports of both goods and services on the demand side.
The GDP figures for the January–March 2025 quarter, also released today, show a growth of 7.4%, marking a solid end to the fiscal year. Earlier quarterly growth stood at 6.7% in April–June, 5.6% in July–September, and 6.2% in October–December.
