New Delhi, 7 January (H.S.): The country's gross domestic product (GDP) growth rate is estimated to be 6.4 percent in the current financial year 2024-25. In the last financial year 2023-24, the country's economy grew at the rate of 8.2 percent.

The Ministry of Statistics and Program Implementation said in a statement on Tuesday that the National Statistical Office (NSO) released the first advance estimate of national income for the current financial year 2024-25. It states that real GDP is estimated to grow at the rate of 6.4 percent in this financial year.

The provisional estimate of GDP growth rate for the financial year 2023-24 is said to be 8.2 percent. In such a situation, GDP growth may fall below 7 percent for the first time in the last four years.

The NSO's GDP growth estimate for the current financial year 2024-25 is lower than the Reserve Bank of India's estimate. The Reserve Bank has projected the country's GDP to grow at the rate of 6.6 percent in the financial year 2024-25.

However, the annual growth rate has remained above 7 percent since the financial year 2022-23. This estimate of NSO's growth rate is much lower than the growth rate of the previous financial year.

It is noteworthy that after the country's GDP grew at the rate of 6.7 percent in the first quarter (April-June) of the current financial year 2024-25, the economy grew at the rate of 5.4 percent in the second quarter (July-September), which is less than expected. The NSO has released the first advance estimate of GDP for the financial year 2024-25 at constant (2011-12) and current prices. ,

Hindusthan Samachar / Jun Sarkar