Central Government Meets Fiscal Deficit Target Amid Strategic Spending
The central government successfully achieved the fiscal deficit target of 4.8% of GDP for 2024-25, according to data from the Controller General of Accounts. The deficit was Rs 15,77,270 crore while economic growth was estimated at Rs 3,30,68,145 crore. Revenue and expenditure details highlight financial management strategies.
- Country:
- India
On Friday, the Controller General of Accounts disclosed that the Central Government successfully met the fiscal deficit target for the fiscal year 2024-25, clocking in at 4.8% of the GDP. This achievement stems from strategic financial management amidst evolving economic conditions.
The fiscal deficit stood at Rs 15,77,270 crore, slightly exceeding the revised estimate but aligning with the GDP growth estimate of Rs 3,30,68,145 crore. The government's receipts and expenditures during this period highlight a focused approach toward fiscal stability.
Analyst Aditi Nayar noted that the slight overshooting of the deficit is attributable to capital expenditure increases, balanced by revenue expenditure savings. Looking ahead to 2025-26, the fiscal deficit is projected at Rs 15.68 lakh crore, or 4.4% of GDP, continuing the trend of targeted fiscal management.
(With inputs from agencies.)
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