Current Affairs - Economy - Discussion

India successfully met its fiscal deficit target of 4.8% of GDP for the financial year 2024–25, as reported by the Controller General of Accounts (CGA). This is a significant fiscal achievement, especially in light of shortfalls in revenue collections due to underperformance in miscellaneous capital receipts and a slight dip in income tax revenue. Despite these challenges, the government kept revenue expenditure under control and exceeded capital expenditure estimates. The fiscal deficit, amounting to ₹15.77 lakh crore, aligns with the revised budget target and reflects the government's commitment to fiscal discipline and long-term consolidation as outlined in the Union Budget 2024–25.