FY24’s budget had raised spending by 14.1% over the FY23 budget estimate – to ₹45 lakh crore. Muted hike in capexThis, while lifting revenue spending at a moderate rate, the official said. Finance minister Nirmala Sitharaman will present an interim budget for FY25 on February 1, leaving the full budget to the next government after the election in April-May. The Centre has set a fiscal deficit target of 4.5% of GDP by FY26, against the FY24 goal of 5.9%. However, within the projected revenue spending for FY25, it may prioritise some schemes ahead of elections.

Source: Economic Times January 17, 2024 08:58 UTC