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The fiscal deficit for 2024-25 is estimated at 5.1% of GDP against 5.8% in the current financial year, Finance Minister Nirmala Sitharaman said on Thursday.

Presenting the interim Budget 2024-25, Sitharaman said tax receipts for 2024-25 projected is projected at Rs 26.02 lakh crore.

She informed that the fiscal deficit in FY24 is expected at 5.8% of GDP, down from 5.9% estimated earlier.

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FM Nirmala Sitharaman opens Interim Budget with remarks on entrepreneurship and opportunities

The union government‘s fiscal deficit touched Rs 9.82 lakh crore, or 55% of the annual Budget target, at December-end 2023. In the corresponding period last year, the deficit was 59.8% of the Budget estimates for 2022-23.

Sitharaman also said 50-year interest-free loans of Rs 75,000 crore to be extended to states to realise the dream of a developed India, and added that every challenge of pre-2014 was overcome through our economic management.