The Lok Sabha approved the Rs 48.21-lakh crore Budget for 2024-25 of the Union Government. The lower House also approved the budget of the Union Territory of Jammu and Kashmir with a voice vote. The Union Budget and Budget for J&K was passed by a voice vote by the Lok Sabha. The relevant appropriation bills were also passed by the House. Replying to the debate, Finance Minister Nirmala Sitharaman said the fiscal deficit of the central government is proposed to be brought down to 4.9 per cent of the GDP during 2024-25 and further to below 4.5 per cent by 2025-26.