The government has met its fiscal deficit target of 4.8 per cent of the GDP for 2024-25, according to the data released by the Controller General of Accounts on Friday.
The fiscal deficit for the previous financial year works out to be Rs 15,77,270 crore, nearly the same as revised estimates (Rs 15,69,527 crore) presented to Parliament in February.
The economic growth in nominal terms for the fiscal 2024-25 is estimated at Rs 3,30,68,145 crore, according to the GDP data released earlier in the day.
As per the CGA data, the government managed to collect Rs 30.36 lakh crore revenue or 98.3 per cent of the revised Budget Estimates (RE).
The central government's expenditure during 2024-25 was Rs 46.55 lakh crore or 98.7 per cent of the RE.
The central government's fiscal deficit for 2023-24 was 5.63 per cent of the GDP.
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