The Union Budget 2024-25 has set a fiscal deficit target of 5.1% of GDP for financial year 25 (FY25). What does this mean?
1
The government's total revenue is expected to be 5.1% higher than its total expenditure in FY25.
2
The government's total expenditure is expected to be 5.1% higher than its total revenue in FY25.
3
The government's total revenue and total expenditure are expected to be equal in FY25.
4
The government's total expenditure is expected to be 8.1% higher than its total revenue in FY25.
5
None of the above