The Indian government's fiscal deficit in the first eight months of 2024-25 (Apr-Mar) was Rs 8.466 trillion, down 6.6% on year, data released by the Controller General of Accounts on Tuesday showed.
The fiscal deficit for Apr-Nov accounted for 52.5% of the full-year target of Rs 16.133 trillion set in the Union Budget for FY25. The fiscal deficit in Apr-Nov of FY24 had accounted for 50.7% of the full-year target and 46.5% in Apr-Oct this year. The government has set a fiscal deficit target of 4.9% of GDP for FY25 against 5.6% of GDP achieved last year.
According to the government's medium-term fiscal consolidation roadmap, the fiscal deficit is to be lowered to below 4.5% by FY26.
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