Lower spending to help govt meet fiscal deficit target
The Centre is expected to meet its fiscal deficit target of 4.9% of GDP for the current financial year, aided by lower spending despite marginally lower nominal GDP estimates. With direct tax revenues providing support, careful spending management has ensured the fiscal deficit remains on track, potentially achieving a lower deficit of 4.65% of GDP by FY25.
The Centre is expected to meet its fiscal deficit target of 4.9% of GDP for the current financial year, aided by lower spending despite marginally lower nominal GDP estimates. With direct tax revenues providing support, careful spending management has ensured the fiscal deficit remains on track, potentially achieving a lower deficit of 4.65% of GDP by FY25.
