India s government faces challenges in meeting its fiscal deficit target of 4.5% of GDP in FY26, according to global ratings agency Fitch. The agency predicts a 6.5% growth in the Indian economy in FY25, supported by 11% growth in government capex. The government has set a 5.1% fiscal deficit for FY25, down from 5.8% in FY24. Fitch expects the new government to maintain the fiscal path laid down in the interim budget.
In November, the cabinet approved the government s proposal to extend the Pradhan Mantri Garib Kalyan Anna Yojana free foodgrain scheme for five more years until 2028 at a total cost of nearly Rs 12 lakh crore
The budget contains a multitude of numbers, one as important as the next. Here, Moneycontrol tells you which numbers matter the most and what they mean for the economy in 2024-25
A Moneycontrol poll of economists had shown that the finance minister may target a fiscal deficit of 5.3 percent of the GDP for 2024-25 in its interim budget.