The Report covers the quarterly update on GDP for Q3FY25, highlighting that the figures clocked slightly below expectations. While consumption held out based on rural outperformance, manufacturing remained middling. PFCE had another strong quarter even as GFCF appears to be saturating. Increased welfare expenditure by Union and States was reflected in strong GFCE growth. Second Advance Estimate for FY25, which was released concurrently, posited a slight uptick in GDP vs. First Advance Estimate. FY23 and FY24 also saw significant upward revisions.
