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Finance Minister Nirmala Sitharaman, in her Budget speech on July 23, said the fiscal deficit for 2024-25 is estimated at 4.9% of GDP.
Presenting the Union Budget for 2024-25, she said the government aims to reach a 4.5% fiscal deficit in 2025-26.
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The Finance Minister said gross and net market borrowing is pegged at ₹14.01 lakh crore and ₹11.63 lakh crore, respectively, in FY25.
Net tax receipts are estimated at ₹25.83 lakh crore in FY25 while the total receipts are pegged at ₹32.07 lakh crore.
Total expenditure is estimated at ₹48.21 lakh crore in FY25, she added.
It may be recalled that the interim Budget, presented in February 2024, had pegged fiscal deficit, which is the difference between the government expenditure and income, at 5.1% for FY25 against 5.8% in the last fiscal year.
In her speech, Ms. Sitharaman also said the government plans to launch ‘NPS Vatshalya’ to provide pension contributions by parents and guardians.
