Picture used for illustration goal solely.
| Photograph Credit score: Reuters
Finance Minister Nirmala Sitharaman, in her Budget speech on July 23, stated the fiscal deficit for 2024-25 is estimated at 4.9% of GDP.
Presenting the Union Price range for 2024-25, she stated the federal government goals to achieve a 4.5% fiscal deficit in 2025-26.
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The Finance Minister stated gross and web market borrowing is pegged at ₹14.01 lakh crore and ₹11.63 lakh crore, respectively, in FY25.
Internet tax receipts are estimated at ₹25.83 lakh crore in FY25 whereas the whole receipts are pegged at ₹32.07 lakh crore.
Whole expenditure is estimated at ₹48.21 lakh crore in FY25, she added.
It could be recalled that the interim Price range, offered in February 2024, had pegged fiscal deficit, which is the distinction between the federal government expenditure and revenue, at 5.1% for FY25 in opposition to 5.8% within the final fiscal 12 months.
In her speech, Ms. Sitharaman additionally stated the federal government plans to launch ‘NPS Vatshalya’ to offer pension contributions by dad and mom and guardians.
