Budget 2025: Fiscal deficit target pegged at 4.4 per cent for 2025-26

Presenting the Budget 2025 Finance Minister Nirmala Sitharaman on Saturday pegged the fiscal deficit target at 44 per cent of GDP for the financial year 202526For 202425 the fiscal deficit target has been revised from 49 per cent of gross domestic product GDP to 48 per cent In the Interim Budget tabled on February 1 last year the Finance Minister had pegged it at 51 per cent of GDPIn 202324 the government pegged the fiscal deficit target for 202324 at 59 per cent of gross domestic product GDP Later the fiscal deficit for 202324 was downwardly revised to 58 per centThe difference between the total revenue and total expenditure of the government is termed the fiscal deficit It is an indication of the total borrowings that may be needed by the governmentThe government intends to bring the fiscal deficit below 45 per cent of GDP by the financial year 202526The budget session of parliament began on January 31 and according to schedule will end on April 4 The budget speech outlined the governments fiscal policies revenue and expenditure proposals taxation reforms and other significant announcementsIn her Budget 2025 speech the Finance Minister stated that the government sees the next five years as a unique opportunity to realise development for all Sabka Vikas to stimulate balanced growth of all regions The Finance Minister remarked that Indias development track record for the past 10 years and structural reforms have drawn global attentionAddressing the Lok Sabha on Budget 2025 Sitharaman said Our economy is the fastest growing among all major economies Our development track record for the past 10 years and structural reforms have drawn global attention Confidence in Indias capability and potential has only grown in this period We see the next 5 years as a unique opportunity to realise sabka vikas stimulating balanced growth of all regionsSitharaman stated that this budget proposes development measures in around 10 broad areas that focus on the poor youth farmers and womenIn this Budget the proposed development measures span 10 broad areas focussing on the poor youth farmers and women she saidThe Union Finance Minister further announced a Nuclear Energy Mission to drive Indias transition towards clean energy in line with the goal of achieving the resolution of Vikshit Bharat developed IndiaWith inputs from Agencies