RBI MONETARY POLICY - FIRST CUT
- Credit Rating Agency in India
- RBI Monetary Policy
- RBI MONETARY POLICY - FIRST CUT
The Indian government’s fiscal deficit of 5.6 % for FY24 was lower than the revised estimate of 5.8 % of GDP, due to strong revenue collection and lower subsidies. Growth rates in Nominal GVA and Nominal GDP for Q4 of FY 2023-24 were estimated at 8 % and 9.9%, respectively. Rising gap between GDP and GVA stemmed from 19.1% rise in net indirect taxes in FY24, compared to 10.6% in the previous year and a decline in subsidies.