NSO Releases Q3 FY25 GDP and Advance Estimates
In News
What Happened
Why It Matters
Background
History & Context
What Changed
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Full-Year FY25 Real GDP Projection: BEFORE it was projected at 6.4% in the First Advance Estimate; NOW it has been revised upward to 6.5% in the Second Advance Estimate.
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Q2 FY25 Real GDP Growth: BEFORE it was reported as a seven-quarter low of 5.4%; NOW it has been officially revised upward to 5.6%.
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FY24 Real GDP Growth: BEFORE it was estimated at 8.2%; NOW it has been significantly revised upward to 9.2% (First Revised Estimate), making it the highest in 12 years excluding the post-pandemic bounce.
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Private Final Consumption Expenditure (PFCE) Growth: BEFORE it stood at 5.6% during FY24; NOW it is expected to register a robust growth of 7.6% for FY25.
Prelims Angle
NCERT Connection
Practice Questions
Q1
Correct Statement(s)Consider the following statements regarding India's GDP calculation and the NSO's estimates: 1. The National Statistics Office (NSO) calculates Real GDP using current market prices to adjust for inflation. 2. The Second Advance Estimates for FY25 revised India's projected full-year real GDP growth upward to 6.5%. Which of the following statements is/are correct?