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"The aspirational growth rate could be between 6.5 per cent to 7 per cent. At this stage it will be difficult to attain nine per cent GDP growth," he said. "This year the growth rate will end at five.
Nominal GDP includes changes in prices due to inflation, so it is usually higher than adjusted, or real GDP. Growth of about 6.2% is seen needed for the whole of this year and the next to meet the.
Also read: $5 trillion GDP target to take 4 years longer as nominal growth drops to 6.1% in Q2 Even considering 4.5% inflation, the government expects the real GDP growth rate to be around 6% in.
Since the nominal GDP figures are likely to be low, the tax collections target could be conservative, said people associated.
GDP expected to grow at 11-year low – The projected growth for FY20 is the lowest since FY09, when GDP growth plummeted to 3.1% amidst turbulence because of the 2008 global financial crisis. (Bloomberg file photo) India’s gross.
The FY20 nominal GDP growth is seen at 7.5 per cent and FY21 at 9.3 per cent.
Budget 2020: Tax incentives for Yoga are.
Finance Minister Nirmala Sitharaman may set a nominal GDP growth target of between 9.5-10% in the Budget for the year 2020-21.
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Revisions to historical GDP figures will also be made, Li told reporters. Nominal GDP includes changes in prices due to inflation, so it is usually higher than adjusted, or real GDP. MASSAGING NUMBERS.