Higher welfare spends will lead Maha to lower capital expenditure: Report

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Higher welfare spends will lead Maha to lower capital expenditure: Report - Business Standard

Quick Summary:

The fiscal deficit for FY25 is expected to come at 3 per cent as against the budget target of 2.5 per cent, India Ratings and Research said in a report, adding that the state will resort to higher borrowings to bridge the gap.

The government presented the final budget for FY25 of Rs 6.12 lakh crore on June 28, and also tabled supplementary demands of Rs 94,889 crore on July 10 primarily toward social welfare schemes, it said.

Higher welfare spends announced by the Eknath Shinde-led Maharashtra government ahead of the elections will take the fiscal deficit beyond the target, and may lead to a compression in capital expenditure, a report said on Monday.