The National Statistics Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) released the Quarterly Estimates of Gross Domestic Product (GDP) for the April-June Quarter (Q1) of Financial Year (FY) 2025-26 today. It noted that Real GDP has been estimated to grow by 7.8% in Q1 of FY 2025-26 over the growth rate of 6.5% during Q1 of FY 2024-25. Nominal GDP has witnessed a growth rate of 8.8% in Q1 of FY 2025-26. The latest quarterly print marked an improvement compared to 7.4% in March-25 quarter and is the best show by real GDP growth rate in five quarters.
Agriculture and Allied Sector has observed the Real GVA growth rate of 3.7%, as compared to the growth rate of 1.5% registered in Q1 of last financial year. Secondary Sectors, prominently Manufacturing (7.7%) and Construction (7.6%) Sector has registered above 7.5% growth rate at Constant Prices in this quarter. Mining & Quarrying (-3.1%) and Electricity, Gas, Water Supply and Other Utility Services Sector (0.5%) has seen moderated Real growth rate during Q1 of FY 2025-26. Tertiary Sector (9.3%) has recorded substantial growth rate at Constant Prices in Q1 of FY 2025-26, over the growth rate of 6.8% in Q1 of FY 2024-25.
Government Final Consumption Expenditure (GFCE) has bounced back, registering 9.7% growth rate in Nominal terms during Q1 of FY 2025-26, over the growth rate of 4.0% in Q1 of FY 2024-25. In real terms, it showed a growth of 7.4% compared to a contraction of 0.3% in same quarter of previous fiscal.
Real Private Final Consumption Expenditure (PFCE) has reported 7.0% growth rate during Q1 of FY 2025-26 as compared to the 8.3% growth rate in the corresponding period of previous financial year. Gross Fixed Capital Formation (GFCF) has recorded 7.8% growth rate at Constant Prices, improving over the growth rate of 6.7% in Q1 of FY 2024-25.
Real GDP or GDP at Constant Prices in Q1 of FY 2025-26 is estimated at Rs 47.89 lakh crore, against Rs 44.42 lakh crore in Q1 of FY 2024-25, registering a growth rate of 7.8%. Nominal GDP or GDP at Current Prices in Q1 of FY 2025-26 is estimated at Rs 86.05 lakh crore, against Rs 79.08 lakh crore in Q1 of FY 2024-25, showing a growth rate of 8.8%. Real GVA in Q1 of FY 2025-26 is estimated at Rs 44.64 lakh crore, against Rs 41.47 lakh crore in Q1 of FY 2024-25, registering a growth rate of 7.6%. Nominal GVA in Q1 of FY 2025-26 is estimated at Rs 78.25 lakh crore, against Rs 71.95 lakh crore in Q1 of FY 2024-25, showing a growth rate of 8.8%.