India is on track to record real GDP growth of 6.5-7 per cent in the current fiscal year, while nominal GDP growth is expected to remain around 11-12 per cent, supported by resilient domestic demand, accelerating bank credit and improving economic activity, according to Jefferies. In its latest GREED & fear report, Jefferies said India's economic performance has turned out stronger than anticipated six months ago, with bank credit growth accelerating and lending to micro, small and medium enterprises (MSMEs) recording particularly strong growth.