New Delhi: The SBI Research has revised India’s GDP growth rate. Based on the fiscal 2025 GDP growth estimate of 6.5 per cent by the government, Q4 growth has been derived at 7.6 per cent.
Also, real GDP growth rate of 9.2 per cent for 2023-24 is the highest in the previous 12 years, except FY22 growth (9.7 per cent, which is highest since independence), said the report. India clocked 6.2 per cent GDP growth in Q3 FY25, recovering smartly from the blip witnessed in Q2 FY25 of 5.6 per cent growth.
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Robust growth in agriculture and industry, especially manufacturing activities during the quarter ensured gross value added (GVA) increasing by 6.2 per cent in Q3 FY25 (5.8 per cent in Q2FY25). Real GDP growth for FY23 and FY24 have been revised upwards by 62 bps and 104 bps, respectively as both yearly and quarterly past growth numbers have been revised.
The quarterly GDP growth numbers of FY24 increased by 142 bps to 9.7 per cent in Q1, 126 bps to 9.3 per cent in Q2, 94 bps to 9.5 per cent in Q3 and 60 bps to 8.4 per cent in Q4. For the current fiscal, while Q1 numbers have been revised downward by 13 bps to 6.5 per cent, Q2 numbers stand revised upward by 22 bps to 5.6 per cent.
The per capita GDP at current prices is estimated stood at Rs 2.35 lakh in FY25, with decadal CAGR growth of 9.1 per cent. In the last two fiscals, the per capita GDP has jumped by more than Rs 40,000 at current prices.