India plans to lower budget gap by at least 50 bps, raise capital spending as much as 20% in FY25 – Business & Finance

NEW DELHI: India is planning to lower its budget deficit by at least 50 basis points in 2024/25 from this year’s target of 5.9% of gross domestic product (GDP), while also looking to raise capital spending by as much as 20%, two government officials said.

Shrinking the fiscal deficit and yet at the same time increasing capital spending will depend on an increase in revenues and efforts to…