Interim Budget 2024: The fiscal deficit, also known as the budget gap, is the result of government spending exceeding its earnings. This leads to government debt, which has implications for interest rates and bond yields. Excessive market borrowing by the government can crowd out private players. High fiscal deficits can lower sovereign credit ratings and pose an existential crisis for the economy.
Budget 2024: The annual budget is presented by the Union Finance Minister in the Lok Sabha on February 1. Here s how the financial document is prepared.
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