FY25 Budget confirms govt's commitment to reduce fiscal deficit: Fitch

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FY25 Budget confirms govt's commitment to reduce fiscal deficit: Fitch - Business Standard

Quick Summary:

Fitch Ratings on Friday said India's post-election budget confirms that the new administration remains committed to reducing the fiscal deficit for FY25 and FY26, despite demands of the coalition government.

"India's post-election budget confirms that the new administration remains committed to reducing the fiscal deficit this and next year, despite the demands of the coalition government," Fitch Ratings said in a statement.

The government's fiscal deficit target for FY25 is significantly below the 5.4 per cent that the ratings agency anticipated when it affirmed India's 'BBB-' rating, with a stable outlook, in January 2024.