INDIA'S APRIL-DEC FISCAL DEFICIT GROWS TO RS 9.82 LAKH CRORE, 55% OF FY24 TARGET

The Government is likely to announce a fiscal deficit target of 5.3 per cent of GDP for FY25.

- NIVEDITA MUKHERJEE

The Government's fiscal deficit grew to Rs 9.82 lakh crore in T April-December, accounting for 55.0 per cent of the full-year target of Rs 17.87 lakh crore for the first nine months of the current financial year, ahead of the interim Budget for 2024-25 to be tabled by the Finance Minister Nirmala Sitharaman in Parliament on 1 February. The fiscal deficit is marginally lower than the Rs 9.9 lakh crore recorded in April-December FY2023.

As per data released by the Controller General of Accounts on Wednesday, while net tax revenues rose by 11 per cent, non-tax revenues expanded by 46 per cent on the back of the RBI dividend, amidst a marginal 2 per cent growth in revenue expenditure, and a robust 38 per cent yoy expansion in capex. The Government is likely to announce a fiscal deficit target of 5.3 per cent of GDP for FY25.