As India prepares for Budget 2025, HSBC's Chief Economist for India and Indonesia, Pranjul Bhandari, discusses the government's fiscal deficit targets and the balancing act between growth and inflation. With global uncertainties and slowing domestic growth, Bhandari emphasizes the importance of maintaining macroeconomic stability. She predicts that the government will likely meet its fiscal deficit target of reducing it from 4.9% to 4.4%, signaling India's commitment to fiscal discipline.