Let us tell you that on February 1, Sitharaman presented the country’s budget, in which the fiscal deficit was estimated to be 6.8 percent of the gross domestic product (GDP). Apart from this, a target has been set to bring this deficit to 4.5 per cent in the financial year ended March 2026.
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Aim to raise 12 lakh crore
The fiscal deficit is estimated to reach 9.5 percent of GDP in the current financial year affected by the Kovid-19 epidemic. In the budget, during the next financial year, a target of Rs 12 lakh crore has been raised from the market.
GDP growth rate of 14.4 percent
RBI Governor Shaktikanta Das has said that the central bank will handle the government’s program of raising debt from the domestic market. In the budget next year, the growth rate of GDP at market value is estimated to be 14.4 percent. Sitharaman has projected a 16.7 percent increase in revenue next year. The real (based on constant) GDP growth rate is expected to be in the range of 10–10.5 percent during the year. To encourage growth, there is a target to increase the capital expenditure in the next financial year from the current year’s revised Rs 4.2 lakh crore to Rs 5.54 lakh crore.