February 4, 2025 2:30 PM

India’s fiscal roadmap: strong growth and stability despite tax cuts, says S&P Global

India's Union Budget for 2025 signals steady fiscal consolidation and reinforces a positive outlook for the country's sovereign credit ratings, according to a recent report by S&P Global Ratings. The government has projected a fiscal deficit of 4.8% of GDP for the year ending March 31, 2025, slightly lower than the earlier estimate of 4.9% presented in the Union Budget on February 1. Looking ahead to fiscal 2026, India has set an even more ambitious target, aiming for a fiscal deficit of 4....