Fiscal deficit likely to be at 4.75 pc of GDP in FY25; govt capex to be lower by Rs 62k cr: IndRa

India Ratings projects India's FY25 fiscal deficit at 4.75% of GDP, slightly below the budget target. This is attributed to lower revenue expenditure and a decrease in capital expenditure, though capex remains at a two-decade high. Higher subsidy outgoes are expected, while tax revenues are projected to reach a 17-year high.