Fiscal Deficit in India | InNews | Drishti IAS
Union Finance Minister Nirmala Sitharaman announced during her Budget speech that the Centre would reduce its fiscal deficit to 5.1% of gross domestic product (GDP) in 2024-25. She further added that the fiscal deficit would be pared to below 4.5% of GDP by 2025-26. The FM’s projections surprised most analysts who expected the government’s fiscal deficit target would be slightly higher, at about 5.3% or 5.4% of GDP. The government’s revised estimates also lowered the fiscal deficit projection for 2023-24 to 5.8% of GDP.
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