The government took a big step toward its FY26 fiscal deficit target of 4.5% of GDP, budgeting the gap in FY25 at 5.1%. The budget keeps a tight leash on spending even as tax collections are projected to remain robust with tax-to-GDP ratio budgete...
By ET Bureau | Updated:
Agencies
A sharp uptick in revenue is expected to help the government meet its FY24 fiscal deficit target, despite spending on subsidies exceeding budget estimates due to a surge in fertiliser prices and extension of the free food scheme.
The government took a big step toward its FY26 fiscal deficit target of 4.5% of GDP, budgeting the gap in FY25 at 5.1%. The budget keeps a tight leash on spending even as tax collections are projected to remain robust with tax-to-GDP ratio budgeted to hit the highest since FY08.
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