India Achieves Fiscal Deficit Target of 4.8% for FY25
Why in News?
- The Government of India successfully met its fiscal deficit target of 4.8% of Gross Domestic Product (GDP) for the financial year 2024–25 (FY25), as revealed in the provisional data released by the Controller General of Accounts (CGA).
Important Key Points:
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Fiscal Deficit Achievement: The fiscal deficit for FY25 stood at 4.8% of GDP, aligning with the government’s revised estimate.
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Revenue and Expenditure Details:
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Net Tax Receipts: ₹30.36 trillion ($354.9 billion), up from ₹23.27 trillion the previous year.
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Non-Tax Revenue: ₹5.38 trillion, compared to ₹4.02 trillion in the previous year.
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Total Government Expenditure: ₹46.56 trillion, up from ₹44.43 trillion the prior year.
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Capital Expenditure: ₹10.52 trillion, against ₹9.49 trillion in the previous year.
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Future Targets: The government aims to reduce the fiscal deficit further to 4.4% in the fiscal year 2025–26.
