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Updated 12:18 IST, July 23rd 2024

Union Budget 2024: Fiscal deficit target set at 4.9% in FY25

The capex outlay has been set at Rs 11.11 lakh crore as the government continues to focus on infrastructure development and job creation.

Reported by: Business Desk
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Nirmala Sitharaman
Nirmala Sitharaman | Image: Republic Business

Union Budget 2024: Finance Minister Nirmala Sitharaman presenting the Union Budget 2024 on Tuesday shared the revised estimate of the fiscal deficit for the Financial Year 2025 at 4.9 per cent of national GDP. 

The budget continues the government's focus on boosting economic growth through maintaining capital expenditure. The capex outlay has been set at Rs 11.11 lakh crore as the government continues to focus on infrastructure development and job creation.

In her seventh consecutive budget speech, Sitharaman underlined the need for fiscal prudence while ensuring sufficient funds for critical sectors such as healthcare, education, and defence. 

The budget also includes measures to promote sustainable development, support small and medium enterprises (SMEs), and improve the ease of doing business. FM also announces PM Awas Yojana Uban 2.0 to cater housing needs of 1 crore poor and middle class families will be addressed with an investment of Rs 10 lakh crore. 

Published 12:11 IST, July 23rd 2024