The fiscal deficit has been a persistent challenge for the government. To address this, policymakers have implemented strategic borrowing measures. For instance, the issuance of long-term bonds has helped to reduce the burden of short-term debt.
Additionally, the government has increased its focus on fiscal discipline, aiming to reduce the fiscal deficit to 3.5% of GDP by 2025. This goal is ambitious, but achievable through careful planning and implementation. The government’s commitment to fiscal responsibility is a step in the right direction, and it is crucial that this momentum is maintained.
With a projected growth rate of 7%, the economy is poised for a significant turnaround.