Article Title: Government meets fiscal deficit target of 4.5% for FY25
31-05-2025
Economy Current Affairs Analysis
Context
• The Government of India has met its fiscal deficit target of 4.8% of GDP in 2024-25 though total receipts came in slightly lower than expected, as per data released by the Controller General of Accounts.
• The Centre’s total revenue — counting tax, non-tax and capital receipts — came in at ₹30.78 lakh crore in 2024-25 or 97.8% of its revised estimates for the year. Total expenditure stood at ₹46.55 lakh crore, also 97.8% of the estimates.
• The fiscal deficit, the difference between total expenditure and total revenue, at ₹15.77 lakh crore, stood at 4.8% of GDP based on the latest provisional estimates for the year.
• As part of the Centre’s fiscal consolidation glide path, Finance Minister Nirmala Sitharaman had, in Budget speech in February, targeted fiscal deficit of 4.4% of GDP for FY26.
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