India's Q3 GDP growth hits 6.2%, FY25 forecast at 6.5%
What's the story
India's economy grew by 6.2% year-on-year in the third quarter (Q3) of the current fiscal year (FY25), government data released on Friday showed.
This is an improvement from the revised 5.6% expansion rate in Q2 (July-September) of FY25.
The latest figures match economists' expectations and reflect a positive trend in India's economic performance amid increased government spending and improved urban consumption patterns.
Growth projection
NSO's 2nd advance estimate pegs FY25 growth at 6.5%
The National Statistical Office (NSO) released its second advance estimate of national accounts for FY25, projecting a growth rate of 6.5%.
This is a marginal increase from the first advance estimate of 6.4% released in January 2025.
The NSO also revised the GDP growth for the previous fiscal year (FY24) upward to 9.2%, from an initial estimate of 8.2%.
Figures
Government spending saw 8.3% increase in Q3
Private consumer spending surged 6.9% year-on-year in the October-December quarter, up from 5.9% in the previous quarter, driven by stronger rural demand and increased festival season purchases.
Government spending also saw a significant 8.3% rise in the last three months of 2024, following a modest 3.8% increase in the prior quarter.
Meanwhile, the Gross Value Added (GVA)—a key measure of economic activity and a more stable growth indicator—expanded 6.2%, improving from a revised 5.8% growth in the previous quarter.