New Delhi: The Central government is projected to meet its budget deficit target for the current fiscal year, according to India’s senior economic adviser.
At a function hosted by the Indian Chamber of Commerce, V. Anantha Nageswaran stated, “At the present, our hope is that the budget deficit objective would be met.
On February 1, the government is anticipated to publish its budget for the upcoming fiscal year, amid hopes that it will keep up its investment in infrastructure to support medium-term growth. The target fiscal deficit for the central government’s current fiscal year, which ends on March 31st, is 6.4 percent of GDP.
Many economists and rating institutions like Fitch Ratings believe that the target will be missed.
According to figures released on October 31, the government’s budget deficit increased to Rs 6.20 lakh crore in the months of April through September, or 37.3 percent of the full-year target.
By the fiscal year 2025–2026, the government wants to reduce the deficit, which has grown significantly since the pandemic, to 4.5 percent of GDP.
