The Gujarat budget for the fiscal year 2024-25 was warmly received as it resonates with Prime Minister vision of “Viksit Bharat@2047” through sustainable progress. Commending the state budget presented by the Finance Minister in the Legislative Assembly, the Chief Minister underscored its emphasis on societal advancement, particularly in uplifting the underprivileged, youth, farmers, and women. The CM also highlighted that an unparalleled development budget of 3 lakh crore was allocated last year. Once again, by increasing it by 10 percent this year, we are presenting the people with a budget comprising provisions totaling 3 lakh 32 thousand crores. This Notification was published on 02.02.2024.
Chief Minister of Gujarat commended Gujarat for demonstrating prudent financial management, emphasizing the state’s historically low public debt. The accounts for the fiscal year 2022-23 have been concluded, revealing that Gujarat’s total debt stands at 15.17 percent of Gross State Domestic Product (GSDP). This signifies the lowest debt level in the past decade, positioning Gujarat among the top three states in the country with the most minimal debt burden. Despite being authorized to increase debt up to 27 percent of GSDP under Gujarat’s Fiscal Responsibility and Budget Management Act, the state government has upheld its debt at only 15.17 percent. In contrast to 21 states where the debt-to-GSDP ratio exceeds 27 percent, Gujarat’s dedication to fiscal discipline establishes a praiseworthy precedent.
