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Centre Likely To Peg Nominal GDP Growth At About 11% In Budget 2023: Report
The government expects nominal growth of 15.4% for the current fiscal year. 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. With nominal GDP of 10.6%-11%, India's gross tax collection growth rate is likely to be around 8% in 2023/24, compared with 14.5% in the current year, due to base effect, said Gaura Sengupta, an economist at IDFC First Bank. India's finance ministry did not reply to an email and a message seeking comments. The second official said it would be under 7%. Source - NDTV
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