Fall in India nominal GDP growth in FY24 to challenge fiscal math2 min read . Updated: 09 Jan 2023, 04:19 PM IST
- Nominal GDP growth, which includes inflation, is the benchmark used to estimate tax collections in the upcoming budget to be presented on Feb. 1
India's nominal GDP growth is likely to fall in 2023-24, hurting tax collections and putting pressure on the federal government to reduce the budget gap by cutting expenses ahead of national elections in 2024.
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