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Experts said the Centre would comfortably meet the downwardly revised fiscal deficit target for the fiscal. The fiscal deficit in absolute terms was revised down to ₹ 17.35 lakh crore or 5.8% of gross domestic product (GDP) from the earlier budget estimate of ₹17.87 lakh crore.
The budget contains a multitude of numbers, one as important as the next. Here, Moneycontrol tells you which numbers matter the most and what they mean for the economy in 2024-25
The Indian government is expected to increase the capital expenditure target for central public sector enterprises (CPSEs) in the fiscal year 2025 by 12-13%. The capital expenditure for 54 CPSEs and five departmental arms, including the Railway Board and National Highways Authority of India, is projected to be around ₹8.20-8.30 lakh crore for the upcoming fiscal year.
ONGC has spent '24,500 crore, or about 80% of its annual target. ONGC's overseas arm ONGC Videsh has spent '2,400 crore, three-fourths of the annual budget. HPCL has spent '9,500 crore, nearly exhausting its annual budget of '10,000 crore as the greenfield refinery being built in Barmer, Rajasthan absorbs a lot of capital.
As part of its record capital expenditure target of Rs 10 lakh crore for 2023-24, the Centre is extending long-term, interest-free loans to the tune of Rs 1.3 lakh crore to states for their own capex needs