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Budget: Aided by RBI surplus transfer, FM improves fiscal consolidation

Business Standard LogoBusiness Standard6h ago

Budget: Aided by RBI surplus transfer, FM improves fiscal consolidation - Business Standard

Quick Summary:

Sitharaman had originally projected the fiscal deficit at 5.9 per cent of GDP for 2023-24, revised it lower to 5.8 per cent, and bettered both the estimates by reining it in at 5.6 per cent.

In absolute terms, nominal GDP was pegged lower by over Rs one trillion at Rs 326.4 trillion for FY25 against the interim Budget estimates of Rs 327.7 trillion.

She also committed herself to bringing the Centre's fiscal deficit below 4.6 per cent of GDP next financial year and further reducing it onwards so that the Centre's debt would decline in proportion to GDP.

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Category: BusinessFinance

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Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-23 @ 17:45:24 (6 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 676 words

Reading Time: 4 minutes read

Sentences: 21 lines

Sentence Length: 33 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 21751220

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