India’s FY24 fiscal gap may be slightly better than revised estimates: Official

The central government’s fiscal deficit for FY24 is expected to be slightly better than revised estimates, thanks to higher-than-anticipated revenue receipts. Despite slower nominal growth, deficit-to-GDP ratio is estimated to improve. Direct tax revenue exceeded expectations, and expenditure remains on track. The government is prepared to manage potential capital inflows from JPMorgan’s inclusion of Indian government bonds in its index.

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