Budget Preview: Spending growth likely to remain subdued in FY26. Expect fiscal deficit target at 4.5% of GDP in FY26.
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Motilal Oswal Report
The Government of India will present its Budget 2025-26 on Saturday, Feb, 01, 2025. The first full-year Budget of the new government comes against the backdrop of slower domestic economic growth, a weakening currency, and a highly uncertain global geopolitical situation (especially the Trump-led US administration).
Not surprisingly then, the expectations are running high. In this note, we present our five key expectations from the Union Budget 2025-26 and also discuss the fiscal math.
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