Real GDP Growth of India falls to 5.4%

India's GDP or Gross Domestic Product growth fell to a low of around 5.4% in Q2 of 2024-25 according to data by the National Statistical Office (NSO). In the April-June quarter, the GDP growth rate of the country was at 6.7% and nearly 8.1% in the previous year. As per NSO, there has been slow growth in mining and manufacturing sectors, besides reduced private consumption and government expenditure.

Manufacturing sector accounting for more than 17% of the overrall Gross Value Added (GVA) output increased by only 2.2% in July - September against 7% in April-June in comparison to the growth rate of 14.3% in the previous year. Construction sector grew by 7.7% in Q2, compared to 10.5% in Q1 and 13.6% the prior year. Services sector recorded a growth rate of 7.1% in Q2 against 7.2% in Q1 and 6% the previous year.  Agriculture witnessed a growth rate of 3.5% in July-September against 2% in the earlier quarter and 1.7% in the previous year.