Key Highlights: FY24 fiscal deficit ... ... Interim Budget 2024: India Targets 5.1% Deficit Amid Boost

Key Highlights:

• FY24 fiscal deficit estimated at 5.8% of GDP.
  
  
• Revised FY24 total expenditure at ₹44.90 lakh crore.
  
  
• Total receipts, excluding borrowings, for FY24 stand at ₹27.56 lakh crore.
  
  
• FY24 tax receipts recorded at ₹23.24 lakh crore.
  
  
• FY25 fiscal deficit projected at 5.1%, aiming for reduction to below 4.5% by FY26.
  
  
• FY25 gross market borrowing expected to be ₹14.13 lakh crore.
  
  
• Scrapping of petty outstanding direct tax demands to benefit 10 million taxpayers.
  
  
• Allocation of ₹750 billion for a 50-year interest-free loan to states meeting milestones.
  
  
• Increased infrastructure outlay to Rs 11.11 lakh crores in FY25.
  
  
• Initiative for rooftop solarisation to provide free electricity to 1 crore households monthly.
  
  
• Extension of Ayushman Bharat scheme to all ASHA and Anganwadi workers.
  
  
• Provision of viability gap funding for 1 GW of offshore wind energy.
  
  
• Detailed plan unveiled to achieve the Indian government’s 2070 Net Zero goal.
  
  
• Implementation of three major Railway economic corridor programs focusing on energy, mineral and cement; port connectivity; and high traffic density corridors.