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.