Brief by Shorts91 Newsdesk / 07:41am on 23 Jul 2024,Tuesday India
In her 2024-25 Union Budget speech, Finance Minister Nirmala Sitharaman announced a fiscal deficit estimate of 4.9% of GDP, an improvement from the 5.1% projected in the interim budget. The reduction aligns with market expectations and reflects the government's commitment to fiscal consolidation. Sitharaman aims to lower the deficit to 4.5% by 2025-26 and maintain a declining debt-to-GDP ratio beyond 2026-27. The budget includes expected borrowings of ₹14.01 lakh crore gross and ₹11.63 lakh crore net. Sitharaman, presenting her seventh consecutive budget, emphasized ongoing fiscal discipline.
