Tag: finance minister nirmala sitharaman

India's interim Budget speech for 2024 was completed by FM Nirmala Sithatraman within an hour. Here are the six key takeaways from the Budget 2024-25 documents based on the revised estimates for the current year and the Budget Estimates for the coming financial year. 1. The government expects the nominal GDP to grow for the coming financial year (2024-25), projecting India's nominal GDP to be Rs 3,27,71,808 crore, assuming 10.5% growth over the estimated nominal GDP of Rs 2,96,57,745 crore in the current financial year (2023-24). 2. The fiscal deficit has been reduced to a 5.8% level and the FM announced similarly ambitious targets for the FY25 — at 5.1% of GDP— and FY26 — at 4.5% of GDP. While this is welcome news, it leads to questions about how fiscal consolidation is being ac...