India’s real GDP growth for FY24 is estimated at 7.3%, surpassing predictions; however, the nominal GDP growth is expected to be 8.9%, below the budgeted target of 10%. This discrepancy could result in the Indian GDP reaching ₹297 lakh crore instead of the budgeted ₹302 lakh crore, posing challenges for the government to meet its fiscal deficit target. The nominal GDP slowdown is attributed to a decline in deflator growth, with analysts expressing confidence that the government is likely to achieve its fiscal deficit target of 5.9% for FY24 despite the lower nominal GDP growth.