India's Finance Minister Nirmala Sitharaman along with her staff poses for pictures as she leaves the Finance Ministry Office to present the annual budget in parliament in New Delhi on February 1, 2024.
India's finance minister, Nirmala Sitharaman, said on Thursday the country's fiscal deficit for financial year 2025 will narrow to 5.1% from the revised 5.8% for 2024.
Capital expenditure will rise by 11.1% to 11.11 trillion rupees ($133.9 billion) in fiscal year 2025, while tax revenue for the year would be 38.31 trillion rupees ($461.7 billion), she said while presenting the interim budget before the general elections.
As much as 750 billion rupees at a 50-year interest free loan will be set aside for states to boost tourism.
The Finance Ministry said earlier this week that India could become the world's third-largest economy by 2027 with a gross domestic product of $5 trillion.
Persons:
Nirmala Sitharaman, Sitharaman
Organizations:
India's, Finance Ministry Office, Finance Ministry
Locations:
New Delhi, India