The Government in line with their aim to reach a fiscal deficit level below 4.5% of the GDP by 2025-26 has revised the deficit for 2024-25 at 4.9%, which is 20 basis points lower than 5.1% announced in the interim budget. The reduction in Fiscal deficit figure was on account of healthy direct tax collections and record dividend transfer from RBI and PSUs. The FY24A Deficit figure of 5.6% was also lower than the revised estimate of 5.8%.
Union Budget Review FY24-25
Published on 23rd July 2024
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