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India’s fiscal deficit stood at 36.5% of target in first half of FY26
Nov-01-2025

The data released by the Controller General of Accounts (CGA) showed that India’s fiscal deficit stood at 36.5% of the full-year target at the end of first half of FY26. In the previous year, the fiscal deficit was at 29% of the Budget Estimates (BE) of 2024-25 in the first six months. The data showed that gap between the government's expenditure and revenue, was around Rs 5.73 lakh crore in the April-September period of 2025-26. 

The government had estimated the fiscal deficit at 4.4% of the GDP, or Rs 15.69 lakh crore, during 2025-26. The CGA data revealed that the total revenue receipts stood at around Rs 17.30 lakh crore at the end of first half of FY26 as against FY26 budgeted estimate of around Rs 34.96 lakh crore. During the same period, government has reported tax revenue at around Rs 12.29 lakh crore as compared to FY26 budgeted estimate of Rs 28.37 crore. 

On the expenditure front, the government has achieved 51.8% of its budgeted capital expenditure of around Rs 11.21 lakh crore for FY26. The capital expenditure stood at around Rs 5.80 lakh crore at the end of first half of FY26. In the same period, the government has spent around Rs 23.03 lakh crore, 45.5% of its budgeted expenditure at around Rs 50.65 lakh crore for FY26.

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