India is on the path of fiscal prudence as the government has spent around 52.5 per cent of the budget estimate (BE) of its deficit in the first seven months of FY25, says a report by the Union Bank of India.
The fiscal deficit of the central government is projected to be 4.8 per cent of GDP for FY25, slightly below the budgeted estimate of 4.9 per cent, according to a report by Care Edge Ratings. The marginal improvement is attributed to healthy tax collections, despite certain shortfalls.
In the revised budget estimates for 2024-25, the Chief Minister Atishi-led Delhi government has increased the budget outlay to Rs 77,700 crore. The actual budget estimate of Delhi is Rs 76000 crore.
The central government fiscal deficit stands at 46.5 per cent of its budget estimates in the first seven months of the current financial year 2025, highlights a report by Union Bank of India.
The Government of India has released its monthly account summary for the financial year 2024-25 up to September, showing a total receipt of Rs 16.37 lakh crore, representing 51 per cent of the Budget Estimates (BE) for the year.
The central government has received Rs 834,197 crore, amounting to 27.1 per cent of corresponding budget estimates of 2024-25 of total receipts, upto June, the Ministry of Finance said in a release.
State Finance Minister Devda said that the budget for the culture department for the current fiscal year was two and a half times more than that of the budget estimate of the last FY 2023-24.
State Finance Minister Devda said that the budget for the health sector for the current fiscal year was 34 per cent more than that of the budget estimate of the last FY 2023-24.
State Finance Minister Devda said that the budget for Women and Child Development for the current fiscal year was 81 per cent more than that of the budget estimate of the last FY 2023-24.
The Government of India reported that its total receipt from tax and non-tax revenue is Rs 5,72,845 crore, which is 18.6 per cent of the Budget Estimate (BE) for the financial year 2024-25, by the end of May 2024.
Presenting the budget to the House, Neiphiu Rio said, "The estimated gross receipts at Rs 23978.05 crore, and gross expenditure at Rs 23727.88 crore for the financial year 2024-25" were estimated and he added that due to improvements in receipts, the state's closing accumulated deficit ha
The budgetary estimates for next year were up 10 per cent from the previous budget estimates of 2023-24, and 6.5 per cent up against the revised estimates.