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Interim Budget 2024 Expectations LIVE Latest Updates: The upcoming budget is anticipated to be a vote on account rather than a comprehensive budget, serving as a provisional declaration estimating the funds needed by the government before a new administration assumes office post-elections. In contrast to a complete budget that outlines the government's plans for expenditure and revenue generation in the upcoming year, analysts predict that the forthcoming budget, set to be unveiled next month, may not bring forth substantial announcements.A report by CareEdge says that it expects the government to stick to its capex target of Rs 10 trillion in FY24 and raise it further by around 10% to Rs 11 trillion in FY25. "The capex to total expenditure ratio is expected to inch up marginally to around 23% in FY25," it further said. CareEdge also conducted a survey comprising 120 respondents from key industries ahead of the interim budget. When asked about what the focus areas should be, 46% respondents chose capex to be one of it. Meanwhile, professionals across various sectors have been consulted by ET to gauge their expectations.Some assumptions, especially those related to tax exemptions and deductions, are considered overly optimistic. TThe Narendra Modi government aims to reduce the fiscal deficit to 4.5 percent of GDP by FY26, expressing confidence in achieving the 5.9 percent of GDP target for FY24.However, some economists speculate that the fiscal deficit could exceed the 5.9 percent target and reach 6 percent
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