Speaking to reporters after the presentation of the interim Budget, Finance Secretary TV Somanathan also said India s debt-to-GDP ratio is one of the lowest in the G20.
A fiscal deficit of 5.3 percent of GDP in 2024-25 would mean a 60-basis-point reduction in the fiscal deficit from this year s Budget estimate, which economists widely expect the Nirmala Sitharaman-led finance ministry to meet.
No Econ Survey, but Fin Min s review report says FY25 GDP growth may be close to 7% moneycontrol.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneycontrol.com Daily Mail and Mail on Sunday newspapers.
While the government does not present an Economic Survey prior to an interim Budget, which is only a vote-on-account ahead of the Lok Sabha elections, Moneycontrol had reported in November 2023 that the finance ministry would publish a concise document detailing the state of the Indian economy.
In the Interim Budget, Finance Minister Nirmala Sitharaman may peg the government’s gross market borrowing for the FY25 at between ₹15 lakh crore and ₹15.5 lakh crore