India Reports Lower Fiscal Deficit for Early 2026-27 Year

The Government of India reported a fiscal deficit of Rs 4,55,144 crore for the first four months of the 2026-27 fiscal year. This figure represents 26.8% of the full-year target, a decrease from the 29.9% recorded during the same period in the previous financial year.

Data released by the Controller General of Defence Accounts shows that total expenditure for the April-July period stood at Rs 17.62 lakh crore. Net tax revenue reached approximately Rs 8.45 lakh crore, which accounts for 29.5% of the Budget Estimates.

The central government has set a total fiscal deficit target of 4.3% of the GDP, or Rs 16.96 lakh crore, for the current fiscal year. During this period, the Centre transferred Rs 3,72,354 crore to state governments as tax devolution, marking a decrease of Rs 56,190 crore compared to the previous year.