India’s GDP jumps to 6.2% in October-December, Centre pegs economy to expand at 6.5% in 2024-’25

India’s gross domestic product grew at 6.2% in the October-December quarter, up from a seven-quarter low of 5.4% in the July-September period, according to the second advance estimates released by the National Statistics Office on Friday.

The economy had recorded 9.5% growth in the year-ago period.

As per the projection released by the Ministry of Statistics and Programme Implementation, the country’s economy is pegged to grow at a four-year low of 6.5% in the financial year 2024-’25 ending on March 31.

The first advance estimates released in January had projected the gross domestic product growth to fall to 6.4% in the current fiscal year.

In the second estimates, the National Statistics Office stated that the construction sector is estimated to observe a growth rate of 8.6% in the financial year 2024-’25, followed by the financial, real estate and professional services’ sector (7.2%) and trade, hotels, transport, aommunication and services related to broadcasting sector (6.4%).

“Private Final Consumption Expenditure is expected to register a good growth of 7.6% during 2024-’25 as compared to 5.6% growth observed during 2023-’24,” stated the National Statistics Office.

On December 30, the Reserve Bank of India said that India’s economy was demonstrating “resilience and stability”, and projected GDP growth at 6.6% in 2024-’25.

The Economic Survey 2024-’25 tabled in Parliament on January 31…

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