India's FY24 real GDP grows by estimated 8.2% compared to 7% in FY23

Real gross value added (GVA) grew by 7.2 per cent in FY24 over 6.7 per cent in FY23. A key contributor to this was a 9.9-per cent growth in the manufacturing sector over a 2.2-per cent decline in FY23.

Real GVA and real GDP have been estimated to grow by 6.3 per cent and 7.8 per cent respectively in the fourth quarter (Q4) of FY24.

Growth rates in nominal GVA and nominal GDP for Q4 FY24 have been estimated at 8 per cent and 9.9 per cent respectively.

Real GDP, or GDP at constant prices, is estimated to be ₹173.82 lakh crore in FY24 against the first revised estimates (FRE) of GDP for FY23 of ₹160.71 lakh crore.

Nominal GDP, or GDP at current prices, is estimated to be ₹295.36 lakh crore in FY24 against ₹269.50 lakh crore in FY23, showing a growth rate of 9.6 per cent.

Real GVA is estimated at ₹158.74 lakh crore in FY24, against the FRE for FY23 of ₹148.05 lakh crore, registering a growth rate of 7.2 per cent compared to 6.7 per cent in FY23.

Nominal GVA is estimated to be ₹267.62 lakh crore during FY24 compared to ₹246.59 lakh crore in FY23, showing a growth rate of 8.5 per cent.

Real GDP in Q4 FY24 is estimated at ₹47.24 lakh crore against ₹43.84 lakh crore in Q4 FY23, showing a growth rate of 7.8 per cent.

Nominal GDP in Q4 FY24 is estimated at ₹78.28 lakh crore compared to ₹71.23 lakh crore in Q4 FY23, showing a growth rate of 9.9 per cent.

Real GVA in Q4 FY24 is estimated at ₹42.23 lakh crore against ₹39.74 lakh crore in Q4 FY23, showing a growth rate of 6.3 per cent.

Nominal GVA in Q4 FY24 is estimated at ₹70.97 lakh crore against ₹65.74 lakh crore in Q4 FY23, showing a growth rate of 8 per cent.

Fibre2Fashion News Desk (DS)