The Center will release GDP figures for the July-September quarter today. Economic growth is likely to slow down this quarter due to slow pace of industrial activity, especially in the manufacturing, mining and electricity sectors, and slow consumption in urban areas.
According to the median of estimates of 12 economists, GDP growth may decline to 6.5% in the second quarter. It was 8.1% in the same quarter a year ago. Whereas in the last quarter i.e. April-June it was 6.7%. The Office of National Statistics will release the data at 4 pm.
GVA in the first quarter was 6.8% Gross value added i.e. GVA in the first quarter of FY 2025 was 6.8%. It was 8.3% in the same quarter last year i.e. Q1FY24.
At the same time, GVA in the fourth quarter of FY 2024 was 6.3%. At the same time, GVA grew at the rate of 7.2% in the entire year. A year ago i.e. in FY23, GVA growth was 6.7%.
GDP measures the value of goods and services GDP i.e. Gross Domestic Product measures the total value of goods and services produced in a country within a period. In this, the foreign companies which produce within the country's borders are also included. GDP tells the health of the economy.
There are two types of GDP, real and nominal. There are two types of GDP. In real GDP, the value of goods and services is calculated at the base year's value or stable price. At present the base year for calculating GDP is 2011-12. Whereas, nominal GDP is calculated at current price.
What is Gross Value Added (GVA)? In simple words, GVA reveals the total output and income in an economy. It tells how many rupees worth of goods and services were produced in a given period after calculating the input cost and price of raw materials. It also shows how much production took place in a particular area, industry or sector.
From the point of view of national accounting, the figure obtained after taking out subsidies and taxes from GDP at the macro level is GVA. If you look at the production front, you will find it to be an item to balance the national accounts.
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