New Delhi, June 1 -- GDP data for the fourth quarter and full year 2024-25 released on Friday showed a pick-up in activity, albeit not as much as the headline figure suggested. Investments, boosted by increased capital expenditure by the government, contributed to growth. Mint breaks down the numbers.Growth gaps

India's GDP growth, at 7.4% in January-March, exceeded market expectations of 6.9%. However, a slower rise in gross value added (GVA), at 6.8%, revealed a softer underlying momentum in economic activity. GDP is calculated by adding net taxes (taxes minus subsidies) to the GVA. Since the government subsidy payout was 40.9% lower year-on-year during the quarter, it gave a boost to GDP. Nevertheless, GVA growth was highest in one ye...