Economy - Reports
GDP growth softens to 5.4% in September quarter, tertiary sector stays firm As on : 29-Nov-24  17:35

India’s economic growth came in at 5.4% in the second quarter of FY25 compared to same quarter in previous fiscal. This marked a softening from 8.1% in the same period last year and 6.7% in the previous quarter. Despite sluggish growth observed in Manufacturing (2.2%) and Mining & Quarrying (-0.1%) sectors in Q2 of FY 2024-25, real GVA in H1 (April-September) has recorded a growth rate of 6.2%.

Real GVA has grown by 5.6% in Q2 of FY 2024-25 over the growth rate of 7.7% in Q2 of the previous financial year. Nominal GVA has witnessed a growth rate of 8.1 % in Q2 of FY 2024-25 over the growth rate of 9.3% in Q2 of FY 2023-24.

Agriculture and Allied sector has bounced back by registering a growth rate of 3.5% in Q2 of FY 2024-25 after sub-optimal growth rates ranging from 0.4% to 2.0%, observed during previous four quarters.

In the Construction sector, sustained domestic consumption of finished steel has resulted 7.7% and 9.1% growth rates respectively in Q2 and H1 of FY 2024-25.

Tertiary sector has observed a growth rate of 7.1% in Q2 of FY 2024-25, as compared to the growth rate of 6.0% in Q2 of the previous financial year. In particular, Trade, Hotels, Transport, Communication & Services related to Broadcasting has seen a growth rate of 6.0% in Q2 of FY 2024-25 over the growth rate of 4.5% in Q2, 2023-24.

Private Final Consumption Expenditure (PFCE) has witnessed a growth rate of 6.0% and 6.7% respectively in Q2 and H1 of the FY 2024-25 over the growth rate of 2.6% and 4.0% in Q2 and H1 of the previous financial year.

Government Final Consumption Expenditure (GFCE) has rebounded to a growth rate of 4.4% after observing either negative or low growth rates in previous three quarters.

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