FY24 Fiscal Deficit Revised Down To 5.8% Of GDP, FY25 Target At 5.1%, FM says

The FY24 fiscal deficit has been revised down to 5.8 percent of the GDP, Sitharaman said. Revised estimate of revenue receipts expected higher than budgeted, she added.

The FY25 fiscal deficit target has been set at 5.1 percent of GDP, Sitharaman said. FY25 gross market borrowing pegged at Rs 14.13 lakh crore, net borrowing at Rs 11.75 lakh crore, she noted.

For financial year 2024-25, the tax receipts are estimated at Rs 26.02 lakh crore, she said. The finance minister also pointed out that the average processing time of tax returns reduced to 10 days this year.

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