The Union Budget for India is a crucial financial document that outlines the government's revenue and expenditure plans for the fiscal year. A comparison between the Union Budget for 2024-25 and the newly presented Budget for 2025-26 reveals significant changes in expenditure, revenue, and fiscal targets.
Total Expenditure
Budget 2024-25: The total estimated expenditure was set at Rs 48.20 lakh crore, marking an increase of 8.5% over the previous year's actual expenditure.
Budget 2025-26: This year, the total government expenditure has risen to Rs 50.65 lakh crore, reflecting a further increase from last year.
Summary Table of Total Expenditure
Fiscal Deficit
Budget 2024-25: The fiscal deficit was targeted at 4.9% of GDP, which was a decrease from 5.6% in the previous year.
Budget 2025-26: The fiscal deficit target has been further reduced to 4.4% of GDP, indicating a continued effort towards fiscal consolidation.
Fiscal Deficit Comparison
Revenue Receipts
Budget 2024-25: Revenue receipts were estimated to be Rs 32.07 lakh crore, which was 15% higher than the previous year's actuals.
Budget 2025-26: The projected gross tax revenue for this year is Rs 42.70 lakh crore, with net tax receipts expected at Rs 28.37 lakh crore, showing a robust growth trajectory in government revenue streams.
Revenue Receipts Overview
Capital Expenditure Focus
Budget 2024-25: Capital expenditure was set at Rs 11.11 lakh crore, emphasizing infrastructure development and asset creation.
Budget 2025-26: This year's capital expenditure has increased to Rs 11.21 lakh crore, reaffirming the government's commitment to enhancing infrastructure capabilities.
Capital Expenditure Comparison
Conclusion
The comparison between the Union Budgets for fiscal years 2024-25 and 2025-26 illustrates a trend of increased government spending aimed at fostering economic growth while simultaneously working towards reducing the fiscal deficit as a percentage of GDP. The focus on capital expenditure remains strong, reflecting ongoing priorities in infrastructure development and public investment strategies.
With inputs from agencies
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