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India Q3 GDP FY25 Highlights: Maha Kumbh to help India achieve 6.5% growth in FY25, says CEA
01 Mar 2025 | 12:51:32 AM IST
Synopsis
India GDP Q3 FY25 Data Highlights: India’s economic growth accelerated to 6.2% in the third quarter of FY25, up from 5.4% in the previous quarter, driven by improved rural consumption due to a favorable monsoon and increased government expenditure. India's April-January fiscal deficit at Rs 11.70 lakh crore, widens on-year to 74.5% of FY25 revised aim.
India GDP Q3 FY25 Data Highlights: Chief Economic Advisor V Anantha Nageswaran said on Friday that the Maha Kumbh mela Maha Kumbh will help achieve 6.5% GDP for FY25. He further mentioned that though it is ard to put a number to it but Kumbh mela will offer a significant boost to consumption expenditure in the March quarter. Meanwhile, he also said that India's economy must accelerate to 7.6% in the fourth quarter (Q4) to reach a full-year growth target of 6.5%. Read more of what he said.
India’s economic growth rose to 6.2% in the third quarter of FY25, up from 5.4% in the previous quarter, supported by stronger rural consumption following a good monsoon and increased government expenditure. However, concerns remain over trade uncertainties, particularly potential U.S. tariffs under a possible Donald Trump administration. Additionally, the country’s growth outlook for the fiscal year raises challenges for its ambition to become the world’s third-largest economy by 2030.
According to the First Revised Estimates, India’s real GDP grew by 9.2% in FY24, the highest in 12 years except for the post-pandemic rebound in FY22. Despite the sequential recovery, growth remains lower than the 8.6% recorded in the same quarter last year. A slowdown was evident in the July-September period when GDP growth dropped to its slowest pace in seven quarters.
India's April-January fiscal deficit at Rs 11.70 lakh crore, widened on-year to 74.5% of FY25 revised aim.
Show moreIndia’s economic growth rose to 6.2% in the third quarter of FY25, up from 5.4% in the previous quarter, supported by stronger rural consumption following a good monsoon and increased government expenditure. However, concerns remain over trade uncertainties, particularly potential U.S. tariffs under a possible Donald Trump administration. Additionally, the country’s growth outlook for the fiscal year raises challenges for its ambition to become the world’s third-largest economy by 2030.
According to the First Revised Estimates, India’s real GDP grew by 9.2% in FY24, the highest in 12 years except for the post-pandemic rebound in FY22. Despite the sequential recovery, growth remains lower than the 8.6% recorded in the same quarter last year. A slowdown was evident in the July-September period when GDP growth dropped to its slowest pace in seven quarters.
India's April-January fiscal deficit at Rs 11.70 lakh crore, widened on-year to 74.5% of FY25 revised aim.
1 New Update
Highlights:
- Moderation in investment share, corporate caution amid tariff risks, says Crisil
- ICRA’s Aditi Nayar on GDP data: Revisions suggest 7.6% Q4 growth, but global uncertainties may dampen outlook
- India’s Q3 FY2025 GDP growth improves to 6.2%, but falls short of 6.4% forecast, says ICRA
- CEA: RBI's CRR and repo rate cut are expected to support liquidity and credit growth
- India's forex reserves up $4.7 billion at $640.47 billion as of February 21
- The production of Cement, Refinery Products, Coal, Steel, Fertilizers and Electricity recorded positive growth in January, 2025.
- The combined Index of Eight Core Industries increased by 4.6per cent (provisional) in January, 2025 as compared to the Index in January, 2024.
- US tariff concerns may impact India’s exports by up to $7 billion in FY26, says Ind-Ra
- The growth rate of Real GDP for Q2 of financial year 2024-25 has been revised upward to 5.6%.
- Real GDP Growth Rate of 9.2% for 2023-24 is the highest in the previous 12 years except for 2021-22.
- RBI adds $10 billion via currency swap to ease cash srunch
India Q3 GDP FY25 Live: The Q3 GDP growth drivers
- Broad-based growth in Q3: Driven by both domestic demand and exports, signaling a robust economic recovery.
- Industrial activity gains momentum: Services sector remains resilient, with significant improvement in urban demand.
- FMCG sales growth: Nearly doubled to 5% in Q3 from 2.5% in the previous quarter, reflecting stronger consumer sentiment.
- Rural demand: Continues to show resilience and will support overall growth.
- Government spending: Increased by 8.3% in Q3, up from a modest 3.8% in the previous quarter.
- Private consumer spending: Jumped 6.9% year-on-year, up from 5.9% in Q2, supported by improved rural demand, moderating food prices, and festival season spending.
- Agricultural output: Grew by 5.6% year-on-year, up from a revised 4.1% in the previous quarter.
- Manufacturing growth: Subdued at 3.5% in Q3, compared to 2.2% in the previous quarter.
- Exports performance: Strong performance from core merchandise and services, boosting India's economic outlook.
- FDI and FPI: FDI inflows steady, while FPI shows volatility. Private investment intentions are picking up pace.
- Private sector investment: Needs to ramp up, with no uncertainty in Indian demand.
- Income-tax cut: Expected to help boost consumption.
- Infrastructure output: Grew 4.6% year-on-year in January, driven by cement and refined petroleum products.
- Infrastructure output growth: Revised to 4.8% in December, compared to the initial estimate of 4%.
- Infrastructure output for April-January: Grew by 4.4%, slower than last year's 7.8% growth.
India’s Q3 GDP picks up pace: What the latest data reveals
After a sudden slump in the second quarter of the financial year, India's economy has bounced back in the third quarter of October to December. The Gross Domestic Product (GDP) grew by 6.2% in October-December. It saw a sharp slowdown in the July to September quarter, with GDP growth slipping to 5.6%, the slowest pace in seven quarters. Economists blamed the slowdown on weak urban demand and a delay in government spending due to national elections last year. Yet, the Q3 GDP growth is marginally below expectations. The Reserve Bank of India (RBI) had projected GDP growth of 6.8% while an ET Poll and a Reuters survey had both suggested growth rate of 6.3% in the third quarter. The Q3 GDP growth is also lower than the 8.6% in the same quarter last financial year. India still remains the fastest-growing major economy in the world.
In its latest monetary policy, the RBI had cut India's growth forecast for 2024-25 to 6.6 per cent from 7.2 per cent. The government now estimates the GDP to grow by 6.5% in 2024-25. India's economy must accelerate to 7.6% in the fourth quarter to reach a full-year growth target of 6.5%, said Chief Economic Advisor V. Anantha Nageswaran on Friday. Is the worst behind for Indian economy?
In its latest monetary policy, the RBI had cut India's growth forecast for 2024-25 to 6.6 per cent from 7.2 per cent. The government now estimates the GDP to grow by 6.5% in 2024-25. India's economy must accelerate to 7.6% in the fourth quarter to reach a full-year growth target of 6.5%, said Chief Economic Advisor V. Anantha Nageswaran on Friday. Is the worst behind for Indian economy?
ICRA’s Rahul Agrawal on core sector growth: Slight easing in Jan 2025, cement output surges to 15-month high
"The core sector growth eased slightly to 4.6% in January 2025 from 4.8% in December 2024, dampened by a slower growth in electricity generation and coal output, even as the latter was much better than expected, given the decline in Coal India Limited’s output in the month. Additionally, the growth in steel output also slowed down sharply, while crude oil output reverted to contraction after witnessing a mild expansion in December 2024. Among the other four indicators that witnessed an uptick in their growth rates in January 2025 vis-à-vis December 2024, cement output saw a particularly sharp surge in growth to a 15-month high of 14.5% in the month. Given these trends, we expect the IIP growth in January 2025 to remain largely similar to the 3.2% seen in December 2024," he said.
EY India’s DK Srivastava on GDP data: Upward revisions highlight post-COVID recovery, growth target
"National accounts data released on 28 February 2025 by NSO relate to both 3Q 2024-25 and revisions of earlier releases covering 2022-23 to 2024-25. According to these revisions, the real as well as nominal growth curves have been lifted upwards. Real GDP growth rates for 2022-23 to 2024-25, are now estimated at 7.6%, 9.2% and 6.5% respectively. This shows a sharp fall in real GDP growth from 2023-24 to 2024-25 of nearly 2.7% points. The nominal growth curve has also been lifted upwards as compared to earlier estimates, showing healthier growth rates of 14%, 12% and 9.9% respectively in these three post COVID years. Thus, the post COVID recovery was clearly underestimated earlier. The 3Q 2024-25 growth is estimated at 6.2% implying a required growth of 7.6% in Q4 2024-25 so as to deliver an annual GDP growth of 6.5% in 2024-25. Going forward, the budget assumption of a nominal GDP growth of 10.1% for FY26 appears realistic. We may also consider the midpoint of the real GDP growth at 6.55%, that is 6.6% of the range given in the economic survey of 6.3 to 6.8% as feasible," said DK Srivastava, Chief Policy Advisor, EY India on GDP data.
Moderation in investment share, corporate caution amid tariff risks, says Crisil
"Investment’s share has been moderating since fiscal 2024. As anticipated, public and household investments were the faster-growing investment components in fiscal 2024. However, private corporate investment share in total investments fell. The financial flexibility and low leverage that corporates enjoy is yet to translate into healthy investments. The ongoing tariff wars and fear of dumping from China keeps the corporate sector cautious on investments," said Dharmakirti Joshi, Chief Economist, Crisil Limited on GDP data
"On the other side, gross domestic savings as a proportion of GDP remained stagnant. While household gross financial savings (as % of GDP) rose, their savings in physical assets fell in fiscal 2024. The complexity of risks from tariff actions – already initiated and likely to be followed by more such measures in the coming months – is evolving and creates a downside bias to our forecasts," he added.
"On the other side, gross domestic savings as a proportion of GDP remained stagnant. While household gross financial savings (as % of GDP) rose, their savings in physical assets fell in fiscal 2024. The complexity of risks from tariff actions – already initiated and likely to be followed by more such measures in the coming months – is evolving and creates a downside bias to our forecasts," he added.
Crisil’s Dharmakirti Joshi on GDP data: Mild revision brings growth closer to pre-pandemic average, expects 6.5% next fiscal
"The mild revision of 10 basis points (bps) in the second advanced estimates to 6.5% takes the expected real GDP growth this fiscal closer to the average of 6.6% seen in the decade pre-pandemic. And this is over a sharp upward revision of 100 bps in the previous year’s growth to 9.2%. We expect the GDP growth at 6.5% next fiscal, supported by normal monsoons, lower food inflation and rate cuts of 75-100 basis points in the current cycle that began earlier this month. However, a lower fiscal impulse is expected to cap growth next year," Dharmakirti Joshi, Chief Economist, Crisil Limited on GDP data said.
"The good news is growth is becoming more balanced as private consumption’s share in GDP rose in fiscal 2025," he added.
"The good news is growth is becoming more balanced as private consumption’s share in GDP rose in fiscal 2025," he added.
ICRA’s Aditi Nayar on GDP data: Revisions suggest 7.6% Q4 growth, but global uncertainties may dampen outlook
"Interestingly, while the Q1 FY2025 GDP growth was revised downwards by 20 bps to 6.5%, that for Q2 FY2025 was revised upwards by an equivalent amount to 5.6%. Given these revisions, the Q3 FY2025 print, and the SAE of 6.5% for FY2025, the GDP is implicitly estimated to growth by 7.6% in Q4 FY2025. This, we believe, is slightly on the higher side given the global uncertainties surrounding merchandise exports and commodity prices, which would affect corporate margins, as well as subdued prints for sectors such as electricity and coal for January 2025. At present, we expect the Q4 GDP growth to print at ~6.5-6.9%, led by Government spending and rural consumption. Consequently, for the full-year FY2025, we expect the GDP growth at 6.3% as against the SAE of 6.5%," she said.
"With the next CPI inflation print for February 2025 foreseen at 4.0%, the Q3 FY2025 GDP print of 6.2% suggests a high probability of another rate cut in April 2025. Whether rates are cut for a third time in 2025 would be crucially impacted by the subsequent GDP growth print for Q4 FY2025," she added.
"With the next CPI inflation print for February 2025 foreseen at 4.0%, the Q3 FY2025 GDP print of 6.2% suggests a high probability of another rate cut in April 2025. Whether rates are cut for a third time in 2025 would be crucially impacted by the subsequent GDP growth print for Q4 FY2025," she added.
India’s Q3 FY2025 GDP growth improves to 6.2%, but falls short of 6.4% forecast, says ICRA
"Notwithstanding the sequential improvement in India’s GDP growth to 6.2% in Q3 FY2025 from the revised 5.6% in Q2 FY2025, the pace trailed our forecast of 6.4%. The sequential uptick was led by a pickup in the growth of private and government consumption and a narrower drag on account of net exports, even as that in gross fixed capital formation eased marginally between these quarters," said ICRA's Chief Economist, Aditi Nayar.
"GVA growth also accelerated modestly to 6.2% in Q3 from 5.8% in Q2, while printing slightly lower than our projection of 6.6%, led by the manufacturing, mining, construction and PADOS segments, even as all the other sectors witnessed a better-than-expected growth in the quarter. However, these numbers must be seen in the context of the sharp upward revisions in the quarterly growth prints for FY2024," she said.
"GVA growth also accelerated modestly to 6.2% in Q3 from 5.8% in Q2, while printing slightly lower than our projection of 6.6%, led by the manufacturing, mining, construction and PADOS segments, even as all the other sectors witnessed a better-than-expected growth in the quarter. However, these numbers must be seen in the context of the sharp upward revisions in the quarterly growth prints for FY2024," she said.
AI in healthcare likely to contribute $30 bn to India's GDP by 2025: Report
Artificial Intelligence (AI) in healthcare is projected to contribute USD 25-30 billion to India's GDP by 2025, enhancing accessibility, diagnostics, and treatment outcomes, according to a report by Deloitte. Government-backed initiatives like the IndiaAI Mission and the Digital Personal Data Protection Act, 2023, are setting the stage for a digitally empowered healthcare ecosystem, ensuring responsible AI integration and enhanced data security, it noted.
As per the report -- "Digital Healthcare- Top 10 Myths Debunked Digital Health & AI", AI adoption in healthcare has surged past 40 per cent, surpassing sectors such as FMCG (30 per cent) and manufacturing (25 per cent). Read more.
As per the report -- "Digital Healthcare- Top 10 Myths Debunked Digital Health & AI", AI adoption in healthcare has surged past 40 per cent, surpassing sectors such as FMCG (30 per cent) and manufacturing (25 per cent). Read more.
Looking at prospects of Indian markets, one shouldn't look at just the short-term volatility: CEA V Anantha Nageswaran
"Looking at the prospects of the Indian markets, one shouldn't look at just the short-term volatility. There are incremental positive factors that will help us realise a 7.6% growth rate in the March quarter," he said on Friday.
Sequential growth momentum in the primary and tertiary sectors is noticeable: CEA
Maha Kumbh to offer significant boost to consumption expenditure in March quarter: CEA
"Hard to put a number to it but Kumbh mela will offer a significant boost to consumption expenditure in the March quarter," said V Anantha Nageswaran.
Private sector needs to ramp up investments. There is no uncertainty about Indian demand. The income-tax cut announced in the Budget will help consumption.
- CEA
Maha Kumbh to help India achieve 6.5% GDP growth for FY25 : CEA
CEA: RBI's CRR and repo rate cut are expected to support liquidity and credit growth
CEA: FDI inflows remain steady, while FPI shows volatility
This (7.6%) doesn't look unrealistic; exports and public capex rebound will support growth in Q4
- CEA
Q3 growth was broad-based, supported by both domestic demand and exports
- CEA
India needs to grow at 7.6% in Q4 to achieve a full-year growth rate of 6.5%
- CEA
Real GDP growth rebounded in Q3, India remains fastest-growing major economy during Q3.
- CEA V Anantha Nageswaran
India's forex reserves up $4.7 billion at $640.47 billion as of February 21
India's foreign exchange reserves were up $4.7 billion at $640.47 billion as of February 21, 2025, data released by the Reserve Bank of India showed on Friday.
Index of Eight Core Industries: Who grew by how much
Coal - Coal production (weight: 10.33 per cent) increased by 4.6 per cent in January, 2025 over January, 2024. Its cumulative index increased by 6.0 per cent during April to January, 2024-25 over corresponding period of the previous year.
Crude Oil - Crude Oil production (weight: 8.98 per cent) declined by 1.1 per cent in January, 2025 over January, 2024. Its cumulative index declined by 2.0 per cent during April to January, 2024-25 over corresponding period of the previous year.
Natural Gas - Natural Gas production (weight: 6.88 per cent) declined by 1.5 per cent in January, 2025 over January, 2024. Its cumulative index increased by 0.5per cent during April to January, 2024-25 over corresponding period of the previous year.
Petroleum Refinery Products - Petroleum Refinery production (weight: 28.04 per cent) increased by 8.3 per cent in January, 2025 over January, 2024. Its cumulative index increased by 3.3 per cent during April to January, 2024-25 over corresponding period of the previous year.
Fertilizers - Fertilizer production (weight: 2.63 per cent) increased by 3.0 per cent in January, 2025 over January, 2024. Its cumulative index increased by 1.7 per cent during April to January, 2024-25 over corresponding period of the previous year.
Steel - Steel production (weight: 17.92 per cent) increased by 3.7 per cent in January, 2025 over January, 2024. Its cumulative index increased by 5.9 per cent during April to January, 2024-25 over corresponding period of the previous year.
Cement - Cement production (weight: 5.37 per cent) increased by 14.5 per cent in January, 2025 over January, 2024. Its cumulative index increased by 4.6 per cent during April to January, 2024-25 over corresponding period of the previous year.
Electricity - Electricity generation (weight: 19.85 per cent) increased by 1.3 per cent in January, 2025 over January, 2024. Its cumulative index increased by 5.0 per cent during April to January, 2024-25 over corresponding period of the previous year.
Crude Oil - Crude Oil production (weight: 8.98 per cent) declined by 1.1 per cent in January, 2025 over January, 2024. Its cumulative index declined by 2.0 per cent during April to January, 2024-25 over corresponding period of the previous year.
Natural Gas - Natural Gas production (weight: 6.88 per cent) declined by 1.5 per cent in January, 2025 over January, 2024. Its cumulative index increased by 0.5per cent during April to January, 2024-25 over corresponding period of the previous year.
Petroleum Refinery Products - Petroleum Refinery production (weight: 28.04 per cent) increased by 8.3 per cent in January, 2025 over January, 2024. Its cumulative index increased by 3.3 per cent during April to January, 2024-25 over corresponding period of the previous year.
Fertilizers - Fertilizer production (weight: 2.63 per cent) increased by 3.0 per cent in January, 2025 over January, 2024. Its cumulative index increased by 1.7 per cent during April to January, 2024-25 over corresponding period of the previous year.
Steel - Steel production (weight: 17.92 per cent) increased by 3.7 per cent in January, 2025 over January, 2024. Its cumulative index increased by 5.9 per cent during April to January, 2024-25 over corresponding period of the previous year.
Cement - Cement production (weight: 5.37 per cent) increased by 14.5 per cent in January, 2025 over January, 2024. Its cumulative index increased by 4.6 per cent during April to January, 2024-25 over corresponding period of the previous year.
Electricity - Electricity generation (weight: 19.85 per cent) increased by 1.3 per cent in January, 2025 over January, 2024. Its cumulative index increased by 5.0 per cent during April to January, 2024-25 over corresponding period of the previous year.
The production of Cement, Refinery Products, Coal, Steel, Fertilizers and Electricity recorded positive growth in January, 2025.
The combined Index of Eight Core Industries increased by 4.6per cent (provisional) in January, 2025 as compared to the Index in January, 2024.
The final growth rate of Index of Eight Core Industries for October 2024 increased by3.8per cent. The cumulative growth rate of ICI during April to January, 2024-25is4.4 percent (provisional) as compared to the corresponding period of last year.
Stepping back, the big picture is that the economy is still fairly soft by India's recent standards. However, with the Reserve Bank of India shifting its priorities from controlling inflation to supporting growth, economic activity should begin to pick up further. This week's reversal of the tighter bank lending restrictions introduced in late 2023, as well as the further monetary policy loosening from the central bank that we expect, will boost household consumption and investment in particular.
- Harry Chambers, Assistant Economist, Capital Economics, London
The Q3 GDP growth is marginally better than our expectations. The pickup in growth moment reflects some improvement in listed companies profit growth with moderation in input cost. Agriculture growth also showed a strong pickup led by robust Kharif crop output. Meanwhile, on the demand side, private consumption growth picked-up reflecting revival in rural demand.
- Gaura Sen Gupta, India Economist, IDFC First Bank, Mumbai
India GDP Q3 FY25 Live: US tariff concerns may impact India’s exports by up to $7 billion in FY26, says Ind-Ra
India GDP Q3 FY25 Live Updates: India’s exports to the US could decline by $2 billion to $7 billion in FY26 if the proposed reciprocal tariffs by the US government are implemented, according to India Ratings and Research (Ind-Ra).
Between April and December of this fiscal year, India’s exports to the US rose by 5.57% to $59.93 billion, while imports grew by 1.91% to $33.4 billion. The US has been India’s largest trading partner since 2021-22, accounting for about 18% of total exports, over 6% of imports, and around 11% of bilateral trade.
Ind-Ra estimates that if these tariffs take effect, a more likely scenario would be a decline of $2 billion to $3.5 billion in Indian exports to the US, which could reduce GDP growth by 5-10 basis points from the current projection of 6.6%. “The weighted average tariff differential is around 7 percentage points, and a more plausible scenario is a decline in exports by $2 billion-$3.5 billion,” said Devendra Kumar Pant, Chief Economist and Head of Public Finance at Ind-Ra.
Discussions between the two governments over the next four to six weeks are expected to provide clarity on the situation. Ind-Ra also noted that ongoing bilateral trade talks, as well as defense and energy agreements between India and the US, could help mitigate the impact of potential tariffs on Indian exports.
Between April and December of this fiscal year, India’s exports to the US rose by 5.57% to $59.93 billion, while imports grew by 1.91% to $33.4 billion. The US has been India’s largest trading partner since 2021-22, accounting for about 18% of total exports, over 6% of imports, and around 11% of bilateral trade.
Ind-Ra estimates that if these tariffs take effect, a more likely scenario would be a decline of $2 billion to $3.5 billion in Indian exports to the US, which could reduce GDP growth by 5-10 basis points from the current projection of 6.6%. “The weighted average tariff differential is around 7 percentage points, and a more plausible scenario is a decline in exports by $2 billion-$3.5 billion,” said Devendra Kumar Pant, Chief Economist and Head of Public Finance at Ind-Ra.
Discussions between the two governments over the next four to six weeks are expected to provide clarity on the situation. Ind-Ra also noted that ongoing bilateral trade talks, as well as defense and energy agreements between India and the US, could help mitigate the impact of potential tariffs on Indian exports.
India GDP Q3 FY25 Live: India's fiscal health
India GDP Q3 FY25 Live Updates: India's fiscal deficit for April to January stood at ₹11.70 lakh crore, accounting for 74.5% of the annual target, up from 63.6% in the same period last year. The government plans to reduce the fiscal deficit to 4.8% of GDP in the current financial year, down from 5.6% in the previous year.
India GDP Q3 FY25 Live: Quarterly estimates and growth rates
India GDP Q3 FY25 Live Updates: Real GVA in Q3 of FY 2024-25 is estimated at ₹43.13 lakh crore, reflecting a 6.2% growth from ₹40.60 lakh crore in Q3 of FY 2023-24. Nominal GVA for the same period is projected at ₹77.06 lakh crore, marking a 10.2% increase from ₹69.90 lakh crore in the previous year.
India GDP Q3 FY25 Live: Growth snapshot
India GDP Q3 FY25 Live Updates: Real GDP at constant prices is projected to reach ₹187.95 lakh crore in 2024-25, up from ₹176.51 lakh crore in 2023-24, reflecting a growth rate of 6.5%, lower than the 9.2% recorded in the previous year. Nominal GDP at current prices is estimated at ₹331.03 lakh crore in 2024-25, compared to ₹301.23 lakh crore in 2023-24, indicating a 9.9% growth.
India GDP Q3 FY25 Live: Private Final Consumption Expenditure (PFCE) is projected to grow by 7.6% in 2024-25, an improvement from the 5.6% growth recorded in 2023-24.
India GDP Q3 FY25 Live: The 'Construction' sector is projected to grow by 8.6% in 2024-25, making it the fastest-expanding industry. It is followed by the 'Financial, Real Estate & Professional Services' sector, which is expected to grow at 7.2%, while the 'Trade, Hotels, Transport, Communication & Services related to Broadcasting' sector is estimated to expand by 6.4% during the same period.
India GDP Q3 FY25 Live: The growth rate of Real GDP for Q2 of financial year 2024-25 has been revised upward to 5.6%.
India GDP Q3 FY25 Live: Growth rates are revised upward from their respective First Advance Estimates
Real GDP has been estimated to grow by 6.5% in FY 2024-25. Nominal GDP is expected to witness a growth rate of 9.9% in FY 2024-25
India GDP Q3 FY25 Live: Real GDP Growth Rate of 9.2% for 2023-24 is the highest in the previous 12 years except for 2021-22
India GDP Q3 FY25 Live: Market at closing
India GDP Q3 FY25 Live Updates: The benchmark BSE Sensex was down 1.9% at 73,198.1, while the broader NSE Nifty 50 index declined 1.86% to 22,124.7, due to broad-based selling amid escalating concerns about a global trade war and a slowing U.S. economy.
India GDP Q3 FY25 Live: Tracking the rupee
India GDP Q3 FY25 Live Updates: The Indian rupee ended at 87.495 against the U.S. dollar compared with 87.20 in the previous session pressed by the weakness in Asian peers on renewed worries over U.S. tariffs.
India GDP Q3 FY25 Live: RBI adds $10 billion via currency swap to ease cash srunch
India GDP Q3 FY25 Live Updates: India’s central bank injected $10 billion into the financial system on Friday through a foreign-exchange swap auction, aiming to ease one of the worst liquidity shortages.
This latest infusion brings the total liquidity added in the past month to about $47 billion as part of the Reserve Bank of India's strategy to address tightening money markets.
Under the swap, the central bank buys dollars from banks in exchange for rupees while agreeing to sell the dollars at a later date. This process increases rupee liquidity in the system.
This latest infusion brings the total liquidity added in the past month to about $47 billion as part of the Reserve Bank of India's strategy to address tightening money markets.
Under the swap, the central bank buys dollars from banks in exchange for rupees while agreeing to sell the dollars at a later date. This process increases rupee liquidity in the system.
India GDP Q3 FY25 Live: Stubborn growth patterns
India GDP Q3 FY25 Live Updates: The central bank, led by newly appointed Governor Sanjay Malhotra, has reduced interest rates, increased liquidity, and postponed stricter financial sector regulations to stimulate economic growth. However, growth is expected to remain slow, ranging between 6.3% and 6.8% in the financial year starting in April, significantly lower than the 8.2% recorded in 2023-24.
The improvement is led by a revival in rural demand and a rise in central government capital expenditure.
- Gaura Sen Gupta, chief economist at IDFC First Bank Economic Research
<b>India GDP Q3 FY25 Live: What the polls say</b>
India GDP Q3 FY25 Live Updates: In the three months to December, India's GDP likely expanded by 6.3% from a year earlier, according to a Reuters' poll. But that would still be lower than the central bank's estimate of 6.8%.
India GDP Q3 FY25 Live: India, the third-largest economy in Asia, experienced a sharp slowdown in GDP growth, which fell to 5.4% in the July-September quarter, marking the slowest expansion in seven quarters.
We think the worst is over as far as India's growth trajectory is concerned but, even with the improvement of momentum, overall GDP growth is likely to remain below the potential growth rate of 7% in 2025-26
- Deutsche Bank said in a recent note, which forecast growth for the next financial year at 6.5%.
India GDP Q3 FY25 Live: Is the sell-off in Indian stocks macro issue?
India GDP Q3 FY25 Live Updates: The recent sell-off in Indian stocks is largely technical and driven by multiple compressions rather than major macroeconomic concerns, according to Jefferies' Greed & Fear report. The decline has been more severe in small and mid-cap stocks due to their higher valuation multiples, making the correction sharper compared to the Nifty benchmark index.
India GDP Q3 FY25 Live: What India needs to become a high income country?
India GDP Q3 FY25 Live Updates: India needs to sustain an average growth rate of 7.8% over the coming decades to achieve high-income status, according to a World Bank report.
India GDP Q3 FY25 Live: World Bank bullish on Indian economy
India GDP Q3 FY25 Live Update: The World Bank has expressed strong confidence in India's economic potential and encouraged investment in the country. Speaking at the Advantage Assam 2.0 Business Summit, World Bank country director Auguste Tano Kouame highlighted the lender's optimism about India's growth prospects, despite a slight downward trend in economic expansion.
India GDP Q3 FY25 Live: Govt to cut states' share of Central taxes from 2026?
India GDP Q3 FY25 Live Update: The Modi government plans to propose a reduction in the share of central tax revenues allocated to states, according to Reuters sources. The recommendation will be made to the Finance Commission of India, which oversees tax distribution and federal fiscal policies. If implemented, the move could escalate tensions between the central and state governments.
India GDP Q3 FY25 Live: GST will be more efficient if...
India GDP Q3 FY25 Live Update: India's GST system is unusually complex compared to global standards, with multiple tax slabs, said IMF’s Harald Finger. He suggested reducing non-zero rates and exemptions to improve efficiency in the indirect tax regime.
India GDP Q3 FY25 Live: IMF keeps India's 'stabilised' exchange rate classification through 2024
India GDP Q3 FY25 Live: The IMF has maintained India's "stabilised" exchange rate classification for December 2022–November 2024 in its latest review. While the rupee has moderately depreciated since November 2024, the IMF stated that more data is needed to assess any trend change.
India GDP Q3 FY25 Live: India's economic growth outlook remains stable
India GDP Q3 FY25 Live Update: India's economic growth remains steady despite global uncertainties, according to a Boston Consulting Group (BCG) report. Confidence in the economy is reflected in stable forecasts, driven by strong domestic consumption, government infrastructure spending, and a thriving services sector.
India GDP Q3 FY25 Live: A sinking feeling
India GDP Q3 FY25 Live Updates: Indian benchmark indices, Sensex and Nifty, opened lower on Friday, dragged down by banking and IT heavyweights as investors awaited key GDP data and reacted to fresh tariff remarks from US President Donald Trump.
India GDP Q3 FY25 Live: India's bears close in on midcaps
India GDP Q3 FY25 Live Updates: The Small-cap Index is already in a bear market, and the Nifty Mid-cap 150 Index is nearing the same fate after a 19% drop, reversing last year’s 24% gain. With investors selling profitable positions to offset broader market losses, pressure is mounting on the Nifty 50, which is currently in correction territory with a 14% decline.
India GDP Q3 FY25 Live: Markets mood
India GDP Q3 FY25 Live Update: India’s stock markets are poised for a muted start on Friday as investors await key GDP data and react to fresh tariff comments from U.S. President Donald Trump. GIFT Nifty futures indicate the Nifty 50 will open near Thursday’s close of 22,545.
India GDP Q3 FY25 Live: A look at recent RBI moves
India GDP Q3 FY25 Live Updates: Under the newly appointed Governor Sanjay Malhotra, the central bank has cut interest rates, eased liquidity, and postponed tighter financial sector rules to stimulate growth. However, GDP is expected to remain sluggish at 6.3-6.8% in the upcoming financial year, a sharp drop from 8.2% in 2023-24.
India GDP Q3 FY25 Live: On the GVA front
India GDP Q3 FY25 Live Update: Economic activity, measured by gross value added (GVA), a more stable indicator of growth, is estimated to have expanded 6.2% year-on-year in October-December, up from 5.6% in the previous quarter.
India GDP Q3 FY25 Live: A 6.3% growth in the offing?
India GDP Q3 FY25 Live Updates: India’s GDP is estimated to have grown by 6.3% year-on-year in the October-December quarter, according to a Reuters poll—falling short of the central bank’s 6.8% projection.
India GDP Q3 FY25 Live: What's behind the slowdown?
India GDP Q3 FY25 Live Updates: Economists attributed the slowdown to sluggish urban demand and a delay in government spending caused by last year’s national elections.
India GDP Q3 FY25 Live: The sharp slowdown
India GDP Q3 FY25 Live Updates: Asia's third-largest economy experienced a sharp slowdown in the July-September quarter, with GDP growth dropping to 5.4%—its weakest pace in seven quarters.
India GDP Q3 FY25 Live: India's GDP growth back on track?
India GDP Q3 FY25 Live Updates: India's economic growth is likely to have gained momentum in the October-December quarter, driven by stronger rural consumption following a good monsoon and increased government spending.
India GDP Q3 FY25 Live: Hello and Welcome to ET Online
India GDP Q3 FY25 Live Updates: Good morning, readers! Today, the Indian government is set to release the Q3 GDP data, and expectations are running high for a better outcome. Stay tuned for insights.
