India to Tighten Budget Deficit as Bond Index Inclusion Beckons
- Officials seek to curb FY25 deficit to 5.2%-5.4%, people say
- Strong economy, tax revenue growth gives boost to deficit plan
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Prime Minister Narendra Modi’s administration will probably shrink its budget deficit by as much as 70 basis points in the coming fiscal year, according to officials with knowledge of the matter, on path to fulfill a pledge investors are watching as Indian bonds get included into global indexes.