Even as the government announced schemes to boost employment and assistance to some states in Union Budget 2024-25, it reiterated its intent to stick to the fiscal consolidation roadmap and announced a lower fiscal deficit target. In what could be a signal to rating agencies, the government cut the fiscal deficit target to 4.9 per cent of the Gross Domestic Product (GDP) for financial year 2024-25 from 5.1 per cent in the interim Budget, while underlining that the central government debt will be on a declining path as a percentage…
Tag: Fiscal
Fiscal spending will drive growth: Finance Minister Nirmala Sitharaman
[ad_1] Finance Minister Nirmala Sitharaman on Monday said economic growth will continue to boost investment along with fiscal spending. It will “speed up the economy based on the idea of growth at the macro level complemented by all-inclusive welfare at the micro level”, she said. Sitharaman was speaking at a virtual meeting of BRICS group finance ministers and central bank governors. The statement underscores the government’s continued focus on capex, as it bets big on its high multiplier effect. The Center has budgeted a capital expenditure of Rs 7.50 trillion…