Interim Budget 2024-25 likely to set nominal GDP growth at 10-10.5%

Govt may finalise FY25 Interim Budget assumption this week

The Interim Budget for 2024-25 (FY25) to be presented on February 1 is likely to assume 10-10.5 per cent nominal gross domestic product (GDP) growth against 8.9 per cent estimated for FY24 by the National Statistical Office (NSO).

“We were waiting for the First Advance Estimates GDP numbers for FY24. We will finalise the nominal GDP growth assumption for FY25 Interim Budget in a couple of days. Back of the envelope calculation suggests nominal GDP growth could be in the range of 10-10.5 per cent for FY25,” a government official said, requesting anonymity.

Nominal GDP, calculated at current market prices,