1 year, 10 months ago
Budget 2023 | Fiscal deficit to be brought down to below 4.5% by 2025-26: FM Nirmala Sitharaman
The HinduFiscal deficit would be brought down to below 4.5% by 2025-26, Finance Minister Nirmala Sitharaman said on February 1. She also said that tax receipts for the next fiscal are budgeted at ₹23.3 lakh crore and States would be allowed 3.5% of GDP as fiscal deficit. To finance the fiscal deficit in 2023-24, net market borrowing from dated securities is estimated at ₹11.8 lakh crore, Ms. Sitharaman said while presenting the Union Budget for 2023-24 in the Lok Sabha. Budget 2023 | Income tax slabs revamped; rebate limit increased to ₹7 lakh under new tax regime She retained the fiscal deficit target of 6.4% in the revised estimate for FY2022-23 and reduced it to 5.9% for the next fiscal.
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