Fiscal deficit comes narrows to 4.8% in FY25 compared to 5.6% in previous fiscal

The Accounts of the Government of India for the Financial Year 2024-25 (Provisional/Unaudited) has been consolidated, Ministry of Finance announced yesterday. The Government of India has received Rs 30,78,247 crore (97.8% of corresponding RE 2024-25 of Total Receipts) during 2024-25 comprising Rs 24,98,885 crore Tax Revenue (Net to Centre), Rs 5,37,544 crore of Non-Tax Revenue and Rs 41,818 crore of Non-Debt Capital Receipts. Non-Debt Capital Receipts consists of Recovery of Loans (Rs 24,616 crore) and Miscellaneous Capital Receipts (Rs 17,202 crore). Rs 12,86,885 crore has been transferred to State Governments as Devolution of Share of Taxes by Government of India upto this period which is Rs 1,57,391 crore higher than the previous year. Total Expenditure incurred by Government of India is Rs 46,55,517 crore (98.7% of corresponding RE 2024-25), out of which Rs 36,03,510 crore is on Revenue Account and Rs 10,52,007 crore is on Capital Account. Out of the Total Revenue Expenditure, Rs 11,16,343 crore is on account of Interest Payments and Rs 3,88,036 crore is on account of Major Subsidies. The fiscal deficit (FY25 stood at 4.80%, marking a sharp improvement of 5.6% in the previous fiscal year.

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