Fiscal deficit in 2024-25 is estimated to be 5.1 percent of GDP

Last Updated: Feb 01, 2024

NPIC 20242113422

She said that the fiscal deficit in 2024-25 is estimated to be 5.1 percent of GDP. This is in adherence to the path of fiscal consolidation to reduce the fiscal deficit below 4.5 percent by 2025-26.

Finance Minister said that the States will be encouraged to take up comprehensive development of iconic tourist centres, branding and marketing them at a global scale. A framework for a rating of the centres based on the quality of facilities and services will be established. Long-term interest-free loans will be provided to States for financing such development on a matching basis.

Smt. Sitharaman said, that in the past ten years, the Government has assisted 25 crore people to come out of multi-dimensional poverty. ‘Direct Benefit Transfer’ of 34 lakh crore rupees into PM-Jan Dhan accounts has led to the savings of 2.7 lakh crore rupees for the Government. The PM-SVANidhi scheme has provided credit assistance to 78 lakh street vendors. Narendra Modi government started PM-JANMAN Yojana which reaches out to particularly vulnerable tribal groups, who have remained outside the realm of development so far. PM-Vishwakarma Yojana initiated by the Centre provides end-to-end support to artisans and craftspeople engaged in 18 trades.

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