Big tax boost lets Nirmala raise Capex & yet cut deficit sharply
Wednesday, 24 July 2024
Finance Minister Nirmala Sitharaman's 2024-25 budget reduces the fiscal deficit to 4.9% of GDP without additional borrowing. Increased revenue from income tax and GST supports Rs 15 lakh crore for capital assets. Non-tax revenue, including public sector and RBI dividends, will rise, lowering the revenue deficit from 2.6% to 1.8% of GDP.
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