The government will continue its focus on improving quality spending, strengthening the social security net and bringing down the fiscal deficit to 4.5 per cent of the GDP in FY26, a finance ministry document said. Finance Minister Nirmala Sitharaman is scheduled to present the Budget for 2025-26 in Parliament on February 1.

According to finance ministry statements on the half yearly review under the Fiscal Responsibility and Budget Management Act, 2003, the Union government is committed to pursuing the glide path of fiscal consolidation as announced in the Budget for FY 2021-22 and to attain a level of fiscal deficit lower than 4.5 per cent of GDP by FY 2025-26.