Growing Gap
FY24, FY25 fisc gap estimates widen 10 bps on new GDP series, as per fin min
This story was originally published at 18:37 IST on 10 March 2026
Register to read our real-time news.Informist, Tuesday, Mar. 10, 2026
NEW DELHI – Following the downward revision of India's nominal GDP as per the new data series with the financial year 2022-23 (Apr-Mar) as base year, the Centre's fiscal deficit estimate expressed as a percentage of GDP has increased by 10 basis points for FY24 and FY25, according to a response by Minister of State for Finance Pankaj Chaudhary in Parliament. For FY23, the fiscal deficit has widened 30 bps to 6.7% of GDP.
The fiscal deficit for FY25, which was 4.8% of GDP as per the old series, is now 4.9% of GDP, according to Chaudhary's written response to a question in the Rajya Sabha. The fiscal deficit for FY24 is now 5.7% of GDP, and not 5.6% of GDP, the response showed. In absolute terms, the fiscal deficit for each of the years is unchanged from the estimates at the end of those years.
The Ministry of Statistics and Programme Implementation last month released the new GDP series data with FY23 replacing FY12 as the base year. This was the first major overhaul of the country's national accounts in over a decade. End
Reported by Krity Ambey
Edited by Rajeev Pai
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.
Informist Media Tel +91 (22) 6985-4000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2026. All rights reserved.
To read more please subscribe
Share this Story:
