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of <h1>India's Economy Grows 8.2% in FY 2023-24; Inflation Eases, Fiscal Deficit Targeted Below 4.5% Next Year.</h1> India's economy exhibited robust growth in FY 2023-24, with real growth at 8.2% and nominal growth at 9.6%. The Reserve Bank of India forecasts a 7.2% growth for FY 2024-25. Retail inflation eased to 5.4% from 6.7% the previous year. The fiscal deficit is projected at 4.9% of GDP, with a goal to reduce it below 4.5% by next year. Gross market borrowings are estimated at Rs. 14.01 lakh crore. The Gross Non-Performing Assets (GNPA) ratio of Scheduled Commercial Banks decreased to 2.8%. Gross Tax Revenue is expected to grow by 11.7%, with GST receipts estimated at Rs. 10.62 lakh crore.
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