Union Finance Minister Nirmala Sitharaman could stick to the fiscal deficit target of 5.1 per cent of gross domestic product (GDP) for 2024-25 (FY25), same as the Interim Budget, when she presents the full Budget in the middle of next month, according to three officials who are part of the policymaking team involved in the initial discussions of the Budget-making exercise.
This is amid the considerations of the coalition government that assumed power at the Centre this month, and a likely thrust on higher capital expenditure (capex). There are also expectations of special financial packages from coalition partners like the Telugu Desam Party and Rashtriya Janata Dal (United) of the ruling National Democratic Alliance for Andhra Pradesh and Bihar, respectively.
"The fiscal glide path for FY25 may not differ from the one presented in the Interim Budget. However, any finality in such matters requires political views. We will review it closer to the full Budget," one of the three officials said.
This story is from the June 18, 2024 edition of Business Standard.
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This story is from the June 18, 2024 edition of Business Standard.
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