Fitch Ratings expects India to miss its fiscal consolidation target of 5.1% GDP by 30 basis points, with a deficit forecast at 5.4% for 2025. The government aims to lower the deficit to 4.5% by 2026, but Fitch doubts this target can be achieved amidst the trade-off between growth and consolidation. The agency believes the government's focus on capex will support growth in the medium term.