 "Finance Ministry, Ministry of Finance")
In the upcoming Union Budget, Finance Minister Nirmala Sitharaman is likely to target a fiscal deficit in the range of 5.5-6 per cent of nominal gross domestic product (GDP) in the next fiscal year (FY24), according to people aware of the matter.
This means the government will stick to its fiscal consolidation road map, which envisages a deficit of 4.5 per cent of GDP by FY26.
“We will stick to the medium-term fiscal consolidation road map, which was a commitment made by the finance minister in the 2021 Union Budget,” said a senior official.
In the last medium-term fiscal policy statement, tabled in
