 "Union Budget 2023-24 ready reckoner: A fiscally prudent approach")
The Centre stuck with fiscal prudence, projecting a decline in fiscal deficit to 5.9 per cent of gross domestic product (GDP) in FY24, compared with 6.4 per cent in FY23 (Revised Estimate). While the size of the government (relative to GDP) will reduce in FY24, capital spending is expected to rise by 33 per cent. On the tax front, the government has presented a conservative projection of 11.5 per cent growth. It expects a 27 per cent drop in food and fertiliser subsidy in FY24.
Note: 2023-24 figures are Budget Estimates, 2022-23 figures are Revised Estimates
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