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Fiscal deficit aim for FY25 at 5.1% of GDP against 5.8% in current fiscal : FM

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Interim Budget 2024: Check all FAQs and key terms to decode Finance  Minister Nirmala Sitharaman's presentation - India Today
  1. Finance Minister Nirmala Sitharaman announced in the interim Budget 2024-25 that the fiscal deficit for the upcoming fiscal year is estimated at 5.1% of GDP, down from 5.8% in the current financial year.
  2. Tax receipts for 2024-25 are projected at Rs 26.02 lakh crore.
  3. The fiscal deficit for the current fiscal year (2023-24) is expected to be 5.8% of GDP, down from the earlier estimated 5.9%.
  4. The union government’s fiscal deficit stood at Rs 9.82 lakh crore, or 55% of the annual Budget target, at the end of December 2023.
  5. Sitharaman also mentioned that 50-year interest-free loans of Rs 75,000 crore would be extended to states to contribute to the development of India.
  6. The announcement reflects the government’s focus on managing fiscal deficits and promoting economic development.
SourceINC 42

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