May 31, 2025: While the January-March number of 7.4% was the fastest in the four quarters, India's economic growth in 2024-25 slowed to a four-year low of 6.5%, the worst since COVID and down from 9.2% a year earlier.
According to the National Statistics Office's (NSO) estimates on Friday, the country's GDP is worth Rs 330.68 lakh crore (USD 3.9 trillion), putting it on track to reach its target of becoming a USD 5 trillion economy in the coming years.
Compared to 6.4% during the October-December period, 5.6% during the July-September period, and 6.5% during the April-June quarter of the previous fiscal year, the fourth quarter forecasts exceeded expectations by hitting 7.4%. In February, the NSO released its second advance estimate, which predicted 6.5% GDP growth in 2024–2025
Nirmala Sitharaman, the finance minister, praised the figures and stated that the nation was maintaining its position as the fastest-growing economy for the fourth consecutive year. "We are grateful to the small, medium, and major industries that are stepping in to ensure that our manufacturing and service capacities are maintained." We survived on agriculture both during and after COVID-19. Speaking at the Lakshmipat Singhania-IIM Lucknow National Leadership Awards, Sitharaman stated, "There were opinions that the industry was not investing enough and that capacities were not growing, and that it was affecting the economy."
According to Sitharaman, industrial output increased 4.8% in the fourth quarter of FY25, while the services and agricultural sectors each saw growth of 5.4%.