CII suggests Centre stick to 4.9% fiscal deficit in Budget 2025

CII Director General Chandrajit Banerjee cautioned that overly aggressive Union Budget targets could negatively impact economic growth prospects.

The Confederation of Indian Industry (CII) has suggested the Centre stick with the fiscal deficit target of 4.9 per cent of GDP for FY 25 and a target of 4.5 per cent for FY26 in the upcoming Union Budget.

Chandrajit Banerjee, Director General, CII, elaborating on the suggestions for the forthcoming Union Budget also pointed out that overly aggressive targets beyond the ones mentioned could adversely affect growth.

"India has been growing rapidly amidst a slowing global economy. Prudent fiscal management for macroeconomic stability has been pivotal to this growth," said Banerjee.