Budget expectations: The upcoming full Budget for 2024-25 under Prime Minister Narendra Modi's government aims for fiscal prudence with a focus on a fiscal deficit target of 4.9%. SBI Research recommends not being overly fixated on this goal. The government aims to reduce fiscal deficit below 4.5% of GDP for 2025-26, with robust growth in revenues contributing to this strategy. Finance Minister Nirmala Sitharaman's sixth budget speech, scheduled for July 23, will mark a significant milestone, setting the financial course for Modi's third term.
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