New Delhi, Feb 28 (Reporter) Amid global uncertainties, India's gross domestic product (GDP) growth accelerated to 6.2% year-on-year in October-December quarter (Q3) of the current financial year 2024-25 (FY25) from 5.6% in the previous quarter. The GDP growth in Q3 of the current fiscal is in line with expectations of economists and policy-watchers. "Real GDP or GDP at constant prices in Q3 of FY2024-25 is estimated at Rs 47.17 lakh crore, against Rs 44.44 lakh crore in Q3 of FY2023-24, showing a growth rate of 6.2%," Ministry of Statistics & Programme Implementation (MoSPI) said in a press note. Nominal GDP or GDP at current prices in Q3 of FY25 is pegged at Rs 84.74 lakh crore, against Rs 77.10 lakh crore in Q3 of FY24, showing a growth rate of 9.9%. The GDP at current prices accounts for inflation. "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 chief economist Aditi Nayar. Among sectors which logged strong performance during Q3 of current fiscal include, labour-intensive farm and construction sectors. Growth in manufacturing and mining sectors remained subdued. While agriculture sector clocked a growth of 5.6% growth in Q3 of FY25, the construction sector grew at 7% during this period. Manufacturing sector growth slowed down to 3.5% in Q3FY25 as compared to 14% in the corresponding period a year ago. The 'trade, hotels, transport, communication & services related to broadcasting' grew at 6.7% in Q3 of the current fiscal as against 8% in the same period last year. As per NSO, real gross value added (GVA) in Q3 of FY25 is estimated at Rs 43.13 lakh crore, against Rs 40.60 lakh crore in Q3 of FY24 thus showing a growth rate of 6.2%. Nominal GVA in Q3 of FY25 is estimated at Rs 77.06 lakh crore, against Rs 69.90 lakh crore in Q3 of FY24, showing a growth rate of 10.2%. As per the Second Advance Estimate of the National Statistics Office (NSO) released on Friday, the Indian economy is expected to grow at 6.5% in the full financial year 2024-25. Nominal GDP is expected to witness a growth rate of 9.9% in FY25. Both the growth rates have been revised upward from their respective First Advance Estimates. Construction sector is estimated to observe a growth rate of 8.6%, followed by ‘Financial, Real Estate & Professional Services’ sector (7.2%) and ‘Trade, Hotels, Transport, Communication & Services related to Broadcasting’ sector (6.4%) during 2024-25. Private Final Consumption Expenditure (PFCE) is expected to register a good growth of 7.6% during 2024-25 as compared to 5.6% growth observed during 2023-24. As per the First Revised Estimates, Real GDP has grown by 9.2% in the financial year 2023-24, which is highest in the previous 12 years except for the financial year 2021-22 (the post-covid year). "This growth has been contributed by double-digit growth rates in ‘Manufacturing’ sector (12.3%), ‘Construction’ sector (10.4%) and ‘Financial, Real Estate & Professional Services’ sector (10.3%)," MoSPI said. Commenting on upward revision in GDP growth numbers for previous years and quarters, Madhavi Arora, Chief Economist, Emkay Global Financial Services said, “Massive upward revisions to past years and quarters have made the GDP forecast exercise extremely dynamic. However, backed by the current quarterly estimates by NSO for FY25TD, the implied 4QFY25 GDP estimate appears to be a high 7.7%, a tall ask given the current macro dynamics...////...