Meeting 5.9% fiscal deficit target may get a tad tougher
The Indian government faces challenges in achieving its 5.9% fiscal deficit ratio due to a lower-than-anticipated nominal GDP in FY24. The government must either reduce spending by ₹37,000 crore or increase revenue from the budgeted levels. The fiscal deficit is expected to be ₹17,49,807 crore, slightly breaching the target and reaching 6% of GDP.
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