Whenever India faces a crisis, the country's villages, fields, and barns stand up. That is why the country's GDP growth rate, which had reached 5.6 percent in the July-September quarter, has bounced back in the October-December quarter and the villages have saved the country's honor by taking the GDP growth rate to 6.2 percent.
Last year's good monsoon played its role in handling the country's GDP. While this increased the income of people in villages, rural consumption of villages has also increased. According to the data of the National Statistical Office (NSO), rural consumption has done the work of taking GDP growth to 6.2 percent in the third quarter (October-December) of the financial year 2024-25.
Meanwhile, the increased expenditure of the government has also helped in handling the economy. However, this is much less than the country's GDP growth of 9.5 percent in the same quarter of the last financial year 2023-24.
In its latest estimate, the NSO has said that the country's economic growth rate may be 6.5 percent in the entire current financial year. Whereas in January 2025, the NSO had estimated the country's GDP growth rate to be 6.4 percent. The NSO has also revised the GDP growth rate of the last financial year (2023-24), now it has become 9.2 percent, which was earlier 8.2 percent.
Along with this, the government has also released the growth data of the country's 8 core industries. The growth of 8 basic industries in January was 4.6 percent. This growth rate was 4.2 percent in January last year. However, this is marginally less than the growth of 4.8 percent of core industries in December 2024.
In January 2025, the country witnessed an increase of 4.6 percent in coal production, 3.7 percent in steel production and 1.3 percent in electricity production. Whereas in the same month last year, the growth rate of these industries was 10.6 percent, 9.2 percent and 5.7 percent respectively. During the same period, the production of refinery products has increased by 8.3 percent, fertilizers by 3 percent and cement production by 14.5 percent.
During April-January in the current financial year, the growth rate of 8 core industries was 4.4 percent. Whereas in the same period of last financial year it was 7.8 percent. The country's 8 core industries include coal, crude oil, natural gas, refinery products, fertilizer, steel, cement and power sector.
