Fiscal deficit for FY25 at 5.1% of GDP, compared to 5.8% in current fiscal: FM
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New Delhi: Finance Minister Nirmala Sitharaman stated on Thursday that the fiscal deficit for 2024-25 is expected to be 5.1% of GDP, compared to 5.8% in the current fiscal year.
Sitharaman presented the interim Budget 2024-25, stating that tax receipts for 2024-25 are estimated to be Rs 26.02 lakh crore.
She informed that the fiscal deficit in FY24 is expected at 5.8 per cent of GDP, down from 5.9 per cent estimated earlier.
The Union government's fiscal deficit touched Rs 9.82 lakh crore or 55 per cent of the annual Budget target at December-end 2023. In the corresponding period last year, the deficit was 59.8 per cent of the budget estimates for 2022-23.
Sitharaman also said 50-year interest-free loans of Rs 75,000 crore to be extended to states to realise the dream of a developed India, and added that every challenge of pre-2014 was overcome through our economic management.
With PTI inputs