Ahead of the 2025-26 Budget presentation, the finance ministry's Mid-Year Review for 2024-25 said that the thrust of the government during the next financial year will be on "improving the quality of public spending" while simultaneously "strengthening the social security net for the poor and needy."
In a statement on trends in receipts and expenditures for the first half (April-September) of FY25, tabled in Parliament on December 20 and released on Monday, the finance ministry reaffirmed its commitment to the fiscal consolidation glide path, targeting a fiscal deficit "lower than 4.5 per cent of GDP" by FY26.
"This approach would help further strengthen the nation's macroeconomic fundamentals and ensure overall financial stability," the ministry stated.
The 2024-25 Budget was presented against a backdrop of global uncertainties created by conflicts in Europe and West Asia, the ministry noted.
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