‘Fiscal deficit target set at 5.1% of GDP may improve stability’

Xerrxes Master, President, Association of Multimodal Transport Operators of India (AMTOI) focuses on the fiscal deficit target for FY 2024-25 which is set at 5.1% of GDP, down from the revised estimate of 5.8% for FY 2023-24. This demonstrates a commitment to fiscal prudence and stability. There are no changes in the tax rates for direct and indirect taxes, including import duties. This continuity aims to provide a stable environment for businesses and taxpayers. The outlay for capital expenditure is increased by 11.1% to ₹11.11 lakh crore, which is 3.4% of GDP. This is expected to significantly boost economic growth and employment. A major push for railway infrastructure is also a great move.”