The Interim Union Budget for 2024-25 continued to tread the path of fiscal consolidation, in the backdrop of a healthy domestic economic environment. It pegged the Government of India’s (GoI) fiscal deficit at 5.1 percent of GDP for the next fiscal, midway through the revised estimate of 5.8 percent for FY2024 and the medium-term fiscal deficit target of 4.5 percent for FY2026.