Budget 2024: FM Bets For Fiscal Consolidation Path, Reducing Govt Deficit Below 4.5%

Finance Minister Nirmala Sitharaman said the revised estimate of the fiscal deficit for FY24 stands at 5.8 per cent while presenting the Interim Budget 2024-25.

“The Revised Estimate of the fiscal deficit is 5.8 per cent of GDP, improving on the Budget Estimate, notwithstanding moderation in the nominal growth estimates,” Sitharaman said.

She went on to say that the government is committed to reducing the fiscal deficit below 4.5 per cent by 2025-26, adding that the fiscal deficit in 2024-25 is estimated to be 5.1 per cent of GDP.