The interim budget for the fiscal year 2024-25 was scheduled to be presented in Parliament by Finance Minister Nirmala Sitharaman on February 1. As the general elections were approaching, the budget was expected to be an interim budget rather than a full-fledged one. The government aimed to achieve a fiscal deficit of 5.9% of GDP in FY24 and reduce it to 4.5% by FY26.
According to a CareEdge study, the government was expected to maintain its capital expenditure target of ₹10 trillion in FY24 and increase it by 10% to ₹11 trillion in FY25. Major policy announcements were considered unlikely because of the upcoming elections
According to a CareEdge study, the government was expected to maintain its capital expenditure target of ₹10 trillion in FY24 and increase it by 10% to ₹11 trillion in FY25. Major policy announcements were considered unlikely because of the upcoming elections.
We believe spending on defence will continue. India is looking to become an exporting hub for defence. We already have attachés from more than 80 countries. It has become a significant part of the economy and the market over the last five years inspiring tremendous excitement.”
“Overall, expecting the Amrit Kaal theme to continue from the budget – it will cater to the masses. Continued focus on capital expenditure is expected, in addition to the other focus areas that the government had maintained last year.”