New Delhi, Jan. 25 -- In anticipation of the upcoming 2024-25 budget, an interim one preceding the General Elections, the government is set to prioritize maintaining policy continuity and committing to fiscal consolidation.

According to Bank of Baroda economist Sonal Badhan, the fiscal deficit target for FY24 is expected to be achieved at 5.9 per cent, with potential risks from lower-than-anticipated nominal GDP growth and higher expenditure.

The FY25 budget aims to further reduce the deficit target to a range of 5.4-5.5 per cent.

Addressing the challenges posed by a weak monsoon and subdued Rabi sowing, the budget is poised to boost rural growth through increased spending on schemes like MGNREGA, PM KISAN, and PMAY.

Additionally, the...