The Union budget on February 1 may assume a nominal economic growth rate of about 11.5% and a fiscal deficit target of about 5.3%, a person with knowledge of discussions in the government said, as the Centre aims to leverage the budget to meet its fiscal consolidation goal over the next two years.
The 11.5% nominal GDP (gross domestic product) growth rate projection for FY25, which is expected to form the basis for next budget's calculations, entails a real GDP growth rate of 7% and a GDP deflator of about 4.5%. An 11.5% growth rate would take the nominal GDP for FY25 to ₹330 lakh crore. In FY24, nominal GDP size was ₹296.6 lakh crore, as per the first advance estimate released in December.
An email sent to a finance ministry spokesperson on Friday seeking comment was unanswered till press time.
Nominal GDP refers to the total value of all goods and services produced in a fiscal year, whereas real GDP gives the same value by adjusting for inflation (price rise), with the help of the GDP deflator.
هذه القصة مأخوذة من طبعة January 22, 2024 من Hindustan Times.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة January 22, 2024 من Hindustan Times.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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