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    HomeNewsBusinessBudgetFM cuts fiscal deficit target to 4.9% for FY25 in Budget, sets it further lower at 4.5% for next year

    FM cuts fiscal deficit target to 4.9% for FY25 in Budget, sets it further lower at 4.5% for next year

    The central government has been rapidly reducing its fiscal deficit target after it ballooned to 9.2 percent in 2020-21 due to the coronavirus pandemic.

    Moneycontrol News
    July 23, 2024 / 12:13 IST
    The FM presented the Economic Survey 2023-24 in the Lok Sabha on Monday

    The central government has targeted a fiscal deficit of 4.9 percent of the GDP for 2024-25, according to the full Budget presented by Finance Minister Nirmala Sitharaman on July 23.

    This is significantly lower than the target of 5.1 percent pegged in the interim Budget, which was already a huge 70 basis points less than the previous fiscal’s revised estimate of 5.8 percent. One basis point is a hundredth of a percentage point.

    Further, the Finance Minister set the fiscal deficit target even lower at 4.5 percent for the next financial year 2025-26.

    The central government has been rapidly reducing its fiscal deficit target after it ballooned to 9.2 percent in 2020-21 due to the coronavirus pandemic.

    Moneycontrol News
    first published: Jul 23, 2024 12:04 pm

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