India's government budget deficit is projected to increase to 9.5 percent of GDP in the 2020-2021 fiscal year, up from 3.8 percent in the previous fiscal year and well above the government's forecasts of 3.5 percent, preliminary data from the Ministry of Finance showed. That would be the largest budget deficit on record, as the Covid-19 pandemic severely affected the government revenues while exerting pressure to increase public expenditure. At the same time, the real GDP growth is seen contracting by 7.7 percent in 2020-21 as compared to a growth of 4.2 percent in 2019-20. source: Reserve Bank of India

Government Budget in India averaged -5.08 percent of GDP from 1970 until 2020, reaching an all time high of -2.53 percent of GDP in 1973 and a record low of -9.50 percent of GDP in 2020. This page provides - India Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news. India Central Government Budget - values, historical data and charts - was last updated on June of 2021.

Government Budget in India is expected to reach -7.40 percent of GDP by the end of 2021, according to Trading Economics global macro models and analysts expectations. In the long-term, the India Central Government Budget is projected to trend around -6.70 percent of GDP in 2022, according to our econometric models.

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India Central Government Budget

Actual Previous Highest Lowest Dates Unit Frequency
-9.50 -3.77 -2.53 -9.50 1970 - 2020 percent of GDP Yearly

India Government Last Previous Highest Lowest Unit
Government Debt to GDP 69.62 69.80 83.23 47.94 percent of GDP [+]
Government Budget -9.50 -3.77 -2.53 -9.50 percent of GDP [+]
Government Budget Value -78699.00 -1821461.00 -9406.00 -1821461.00 INR Billion [+]
Government Spending 4559.97 3551.03 4866.36 735.82 INR Billion [+]
Government Revenues 147991.00 1689720.00 1750727.00 82.00 INR Billion [+]
Fiscal Expenditure 226690.00 3511181.00 3511181.00 13655.00 INR Billion [+]
Credit Rating 56.00 [+]
Military Expenditure 73001.00 71469.00 73001.00 2871.00 USD Million [+]
Government Spending To GDP 13.21 12.93 19.42 11.81 percent of GDP [+]

India Central Government Budget
Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus.