Budget for world's fastest-growing economy: Key numbers to be watched

Category: Finance

The budgeted fiscal deficit for the current year is projected at 5.1%, down from 5.6% last year, with a target of 4.5% by FY26. Capital expenditure is set at Rs 11.1 lakh crore, up from Rs 9.5 lakh crore. Gross tax revenue is expected to grow by 11.46% to Rs 38.31 lakh crore, with GST collections estimated at Rs 10.68 lakh crore. The government's gross borrowing is pegged at Rs 14.13 lakh crore. India's nominal GDP growth is estimated at 10.5%, with real GDP growth projected at 7.2%. Finance Minister Nirmala Sitharaman will present her 7th budget, focusing on tax relief for the middle class and fiscal discipline.

Keywords: Fiscal Deficit, Capital Expenditure, Tax Revenue

Source: The Economic Times

Update At: 7/23/2024

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