01-February-2023
Economy News
 
India may peg nominal GDP growth at about 11% in Budget 2023
24-Jan-2023

India is likely to peg its nominal gross domestic product (GDP) growth at around 11% in the annual budget next week, marking a slowdown from its estimate for the current fiscal year due to the prospect of weak exports, two government officials said. Nominal GDP growth - which includes inflation and is the benchmark used to estimate tax collections - could be pressured by suppressed external demand next year due to a likely U.S. recession, said the sources, who declined to be named as discussions are not yet public. The government expects nominal growth of 15.4% for the current fiscal year that ends on March 31.

News Source:- https://economictimes.indiatimes.com/news/economy/indicators/india-may-peg-nominal-gdp-growth-at-about-11-in-budget-2023/articleshow/97268104.cms