India's Fiscal Balancing Act: 2024-25 Targets in Focus

India's fiscal deficit reached 56.7% of its annual target by December 2024. The deficit, amounting to Rs 9.14 lakh crore, reflects a slight increase from the previous year. The government aims to reduce this deficit to 4.9% of GDP by the end of the 2024-25 fiscal year, as outlined in its Budget.


Devdiscourse News Desk | New Delhi | Updated: 31-01-2025 16:46 IST | Created: 31-01-2025 16:46 IST
India's Fiscal Balancing Act: 2024-25 Targets in Focus
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Data released by the Controller General of Accounts highlights that India's fiscal deficit has reached 56.7% of its annual target by the conclusion of December 2024.

In concrete terms, this gap between governmental expenditure and revenue amounted to Rs 9.14 lakh crore during the April-December period of the 2024-25 financial year.

The Indian government remains committed to reducing the fiscal deficit to 4.9% of the gross domestic product by the fiscal year-end, as stated in the Union Budget, following a deficit rate of 5.6% last year.

(With inputs from agencies.)

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