Interim Budget 2024: Balancing growth and fiscal deficit
In the latest episode of our EY India Insights podcasts, prior to the FY24-25 interim budget due in February, we take a look at the country’s macro-economics, growth prospects, and the need to set a path for fiscal balance. EY India Chief Policy Advisor Dr. D.K. Srivastava delves into the economic intricacies that are shaping India's future. In a compelling dialogue, he provides insights into Gross Domestic Product (GDP) growth projections, fiscal deficit targets, and potential policy announcements. Join us as we navigate the economic landscape, exploring the challenges and opportunities that lie ahead.
In conversation with:
D. K. Srivastava
EY India Chief Policy Advisor
Key takeaways
- India’s nominal GDP growth is estimated to grow 10%-10.5%, which is likely to impact fiscal deficit targets for FY25.
- The country may take at least three to four years to achieve the Fiscal Responsibility and Budget Management (FRBM) target of 3% GDP.
- While no major policy announcements are expected to be made in the interim budget, the government will continue to focus on capital expenditure to support economic growth.
The government is likely to continue to invest in infrastructure expansion to support growth. Capital expenditure, coupled with domestic demand, is likely to maintain India’s growth momentum as long as the global crisis continues.
For your convenience, a full text transcript of this podcast is available on the link below: Read the transcript.
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Podcast
Duration 10m 09s
