Interim Budget 2024: Overall spending likely to see 10% hike, says report
India TodayThe upcoming interim budget for the fiscal year 2024-25 may witness a cautious approach from the government, with an anticipated 10 per cent increase in overall spending compared to the current fiscal year, reported The Economic Times. Despite the economy's robust growth, with a forecasted 7.3 per cent increase in Gross Domestic Product for the fiscal year 2023-24, the government stresses the need for fiscal consolidation. Capital expenditure focus The government plans to sustain quality spending in the next fiscal year by prioritising capital expenditure, but at a more measured pace compared to recent years. Experts suggest that, despite the projected 8.9 per cent expansion in nominal GDP for FY24, the government may remain cautious in its revenue projections for the upcoming fiscal year.