<ul><li>The Union Government aims to reduce the fiscal deficit to 4.5% of GDP by FY 2025-26, according to the Finance Ministry.</li><li>The government plans to focus on improving the quality of public spending while strengthening the social security net for the poor and needy.</li><li>India's sound macro-economic fundamentals have helped the country maintain growth with fiscal consolidation despite global uncertainties.</li><li>The fiscal deficit for FY 2024-25 is estimated to be about Rs 16.13 lakh crore or 4.9% of GDP, which is planned to be financed through market borrowing and other sources.</li></ul>

Govt eyes to improve quality spending, cut fiscal deficit to 4.5% in FY26: FinMin report

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