Mumbai, May 29 -- The Reserve Bank of India (RBI) has stated in its latest annual report that during 2024-25 (as per revised estimates or RE), the Union government contained the gross fiscal deficit (GFD) to 4.7 per cent of GDP; 0.2 per cent below budget estimates (BE); primarily through containment of revenue and capital expenditure. Revenue expenditure rose by 5.8 per cent in 2024-25 (RE), broadly in line with Budget Estimates or BE. In 2024- 25 (RE), interest payments and outgo on major subsidies as per cent of GDP declined by 0.1 per cent and 0.2 per cent, respectively, as compared to 2023-24.

Capital expenditure undershot the BE by Rs 92,682 crore and was placed at 3.1 per cent of GDP in 2024-25 (RE) as against 3.2 per cent of GDP i...