At 5.6% of GDP, FY24 fiscal gap beats target

In absolute terms, the FY24 fiscal deficit stood at ?16.54 lakh crore, down from the revised estimate of ?17.35 lakh crore and FY23 level of ?17.38 lakh crore, showed the official data released on Friday. A lower-than-anticipated deficit in FY24 and a generous surplus transfer by RBI earlier this month make the government’s goal of reining in fiscal gap at 5.1% of GDP in FY25 seem more realistic now, experts said.