The budget focused on fiscal consolidation, infrastructure, agriculture, green growth, railways.
No changes in direct and indirect tax rates were proposed.
The nominal GDP growth was assumed at 10.5% to Rs 327.71 Lakh crs for FY 2024-25, in-line with market expectation.
The Capital Expenditure outlay has been increased by 11.1% to Rs.11.11 Lakh crs., this is 3.4% of GDP.
FY 2024 Fiscal Deficit target was revised down to 5.8% of GDP from 5.9% budgeted earlier.
FY25 Fiscal Deficit target at 5.1% of GDP lower than market expectation of 5.3%, this led to a fall in the 10 yr benchmark yield by 9 bps to 7.05%.
FY25 gross market borrowing pegged at ₹14.13 Lakh crore, net borrowing at ₹11.75 Lakh crore.
For more details and official highlights, click on the link below.
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