Government Hits Fiscal Deficit Target Amidst Robust Economic Data

The government has successfully met its fiscal deficit target of 4.8% of GDP for 2024-25, as confirmed by the Controller General of Accounts. The fiscal deficit stood at Rs 15.77 lakh crore, aligning with revised estimates. Revenue collection was 98.3% of RE, while expenditure hit 98.7%.

The government has achieved its fiscal deficit objective, marking it at 4.8% of GDP for the financial year 2024-25, according to the Controller General of Accounts' data released on Friday.

Last year's fiscal deficit amounted to Rs 15.77 lakh crore, closely aligning with the revised estimates of Rs 15.69 lakh crore as presented in Parliament earlier this year.

Notably, the nominal economic growth for 2024-25 is set at Rs 3,30,68,145 crore, with the government collecting Rs 30.36 lakh crore in revenue, accounting for 98.3% of the revised Budget Estimates. Government expenditure reached 98.7% of RE, totaling Rs 46.55 lakh crore.

(With inputs from agencies.)