Budget 2023-24: Sitharaman sticks to the fiscal glide path, lowers FY24 deficit target to 5.9%

Union Budget 2023: The lower fiscal deficit target for 2023-24 was expected as a possible moderation in global commodity prices and less spending on subsidies as the government withdraws pandemic-related benefits are likely to create space for the lower fiscal deficit target. States will be allowed a fiscal deficit of 3.5% of GSDP of which 0.5% will be for power sector reforms, Nirmala Sitharaman said.

Budget 2023-24: Sitharaman sticks to the fiscal glide path, lowers FY24 deficit target to 5.9%
Union Budget 2023: The lower fiscal deficit target for 2023-24 was expected as a possible moderation in global commodity prices and less spending on subsidies as the government withdraws pandemic-related benefits are likely to create space for the lower fiscal deficit target. States will be allowed a fiscal deficit of 3.5% of GSDP of which 0.5% will be for power sector reforms, Nirmala Sitharaman said.