Interim Budget surprised positively on fiscal deficit target: Morgan Stanley ...Middle East

New Delhi: The Interim Budget focused on consolidating fiscal deficit ahead of expectations and pegged the target at 5.1 per cent of GDP for F25BE from 5.8 per cent of GDP in F24RE. Further, the fiscal assumptions look reasonable with the tax revenue assumptions a tad conservative, foreign brokerage Morgan Stanley said in a report. The Budget has prioritised macro stability, with a lower than expected fiscal deficit and government borrowing, which is likely creating space for the private sector to take on the mantle of capex growth, the report said. As such total expenditure growth is expected to moderate to 6.1 per cent in F25BE (from 7.1 per cent in F24RE), led by a slowdown in overall ca

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