This is despite the second advance estimate showing a lower nominal GDP than factored in the Budget.
As per the second advance estimate of nominal GDP released on Thursday, the fiscal deficit worked out to be 5.9% of GDP as against the revised estimate of 5.8% (from 5.9% in FY24BE). The fiscal ratios were pegged to nominal GDP in the first advance estimate of ₹2,96,57,745 crore, which has now been revised downward to ₹2,93,89,686 crore.As per the FY24 revised esitmate (RE), the fiscal deficit is estimated to be 17,34,773 crore.
Given the likely lower capex and higher tax revenues, the government could still contain fiscal deficit at the RE level of 5.8%, analysts said.
This story is from the March 02, 2024 edition of Financial Express Mumbai.
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This story is from the March 02, 2024 edition of Financial Express Mumbai.
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