REUTERS/Anushree FadnavisJan 24 (Reuters) - India is likely to peg its nominal gross domestic product (GDP) growth at around 11% in the annual budget next week, marking a slowdown from its estimate for the current fiscal year due to the prospect of weak exports, two government officials said. Nominal GDP growth — which includes inflation and is the benchmark used to estimate tax collections — could be pressured by suppressed external demand next year due to a likely U.S. recession, said the sources, who declined to be named as discussions are not yet public. The government expects nominal growth of 15.4% for the current fiscal year that ends on March 31. With nominal GDP of 10.6%-11%, India's gross tax collection growth rate is likely to be around 8% in 2023/24, compared with 14.5% in the current year, due to base effect, said Gaura Sengupta, an economist at IDFC First Bank. The real GDP growth is expected to be pegged at 6.0%-6.5% in the Economic Survey of 2022/23, one of the officials said.

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