Official projections of real gross domestic product (GDP) growth far exceed the calculations made earlier, and those for nominal economic growth are far less than assumed in the Budget. This has happened for the first time during 2023-24 among four pre-election years.

       This happened because inflation, as viewed by GDP deflators, is expected to be quite lower than initially projected for the first time, contrary to what had happened ahead of three previous interim Budgets.

       In fact, there was an exact opposite mix of real GDP growth and nominal GDP growth in the pre-election year of 2008-09 when

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