Finance Ministry Team Crafts Rs 50 Lakh Crore Budget with Focus on Growth and Fiscal Deficit Reduction Target

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....The Finance Ministry team led by Finance Minister is preparing the FY26 Union Budget exceeding Rs 50 lakh crore amid significant economic challenges. Key concerns include decelerating growth projected at 6.4% for FY25, currency depreciation with rupee reaching 86.7 against USD, moderated consumption demand, and stagnant private investment. The budget aims to maintain fiscal prudence while targeting deficit reduction below 4.5% of GDP. The core team comprises Finance Secretary Pandey, Economic Affairs Secretary Seth, Expenditure Secretary Govil, DIPAM Secretary Chawla, Financial Services Secretary Nagaraju, and Chief Economic Advisor Nageswaran. Primary objectives include strengthening growth trajectory, managing fiscal consolidation, and addressing economic headwinds while maintaining developmental priorities.....