India’s economic growth slowed to a 15-month low of 6.7% in April-June 2024-25, compared to 8.2% in the same period last year, government data released on Friday said.

This decline is mainly due to the poor performance of the agriculture and services sectors.

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According to data from the Ministry of Statistics & Programme Implementation (MoSPI), the Real GDP for Q1 of 2024-25 is estimated at ₹43.64 lakh crore, compared to ₹40.91 lakh crore in Q1 of 2023-24.

The Nominal GDP for Q1 of 2024-25 is estimated at ₹77.31 lakh crore, up from ₹70.50 lakh crore in Q1 of 2023-24, showing a growth rate of 9.7%.

Real GVA for Q1 of 2024-25 is estimated at ₹40.73 lakh crore, compared to ₹38.12 lakh crore in Q1 of 2023-24, showing a growth rate of 6.8%.

Nominal GVA for Q1 of 2024-25 is estimated at ₹70.25 lakh crore, up from ₹63.96 lakh crore in Q1 of 2023-24, indicating a growth rate of 9.8%.

As per the data, GVA in the ‘mining and quarrying’ sector accelerated to 7.2% in the first quarter, up from 7% a year ago.

The electricity, gas, water supply, and other utility services grew by 10.4% from 3.2%. The construction segment also went up by 10.5% from 8.6%.

Trade, hotels, transport, communication, and services related to broadcasting slowed to 5.7% from 9.7%.

Further, as per the data released by the Ministry of Finance, the Union government received Rs 10,23,406 crore up to July 2024, which is 31.9% of the Budget Estimate (BE) 2024-25 for Total Receipts.

This includes Rs 7,15,224 crore in Tax Revenue (Net to Centre), Rs 3,01,796 crore in Non-Tax Revenue, and Rs 6,386 crore in Non-Debt Capital Receipts.

As per the ministry data, Rs 3,66,630 crore has been transferred to state governments as the Devolution of Share of Taxes by the Government of India up to this period, which is Rs 57,109 crore higher than the previous year.

The total Expenditure incurred by the Government of India is Rs 13,00,351 crore, which is 27% of the BE 2024-25.

Out of this, Rs 10,39,091 crore is in the Revenue Account and Rs 2,61,260 crore is in the Capital Account.

Further, out of the Total Revenue Expenditure, Rs 3,27,887 crore is on account of Interest Payments and Rs 1,25,639 crore is on account of Major Subsidies.