India’s fiscal deficit stood at INR 4.6 trillion in April-July 2026-27, down from INR 4.7 trillion a year earlier, reaching 26.8% of the full-year target versus 29.9% previously. Total expenditure rose 12.7% year-on-year to INR 17.6 trillion, while capital spending increased to INR 4.5 trillion from INR 3.5 trillion, reaching 36.9% of the annual target. Total receipts rose 19.3% to INR 13.1 trillion, supported by higher net tax revenues of INR 8.5 trillion, up from INR 6.6 trillion. India targets a fiscal deficit of INR 17.0 trillion, or 4.3% of GDP, for 2026-27. source: Controller General Of Accounts, India

India recorded a government budget deficit of 455144 INR Tens of Million in July of 2026. Government Budget Value in India averaged -343431.19 INR Tens of Million from 1997 until 2026, reaching an all time high of -9406.00 INR Tens of Million in April of 1997 and a record low of -1821461.00 INR Tens of Million in March of 2021. This page provides the latest reported value for - India Government Budget Value - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. India Central Government Budget Value - data, historical chart, forecasts and calendar of releases - was last updated on September of 2026.

India recorded a government budget deficit of 455144 INR Tens of Million in July of 2026. Government Budget Value in India is expected to be -590000.00 INR Tens of Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the India Central Government Budget Value is projected to trend around -1550000.00 INR Tens of Million in 2027 and -1950000.00 INR Tens of Million in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-07-31 10:30 AM
Government Budget Value
Jun INR -3078B INR -1624B INR -5400B
2026-08-31 10:30 AM
Government Budget Value
Jul INR-4551.4B INR -3078B INR -7000.0B
2026-09-30 10:30 AM
Government Budget Value
Aug INR-4551.4B INR-5700.0B


Related Last Previous Unit Reference
Credit Rating 56.00 Sep 2026
Fiscal Expenditure 1761853.00 1357076.00 INR Tens of Million Jul 2026
Government Budget -4.40 -4.75 percent of GDP Dec 2025
Government Budget Value -455144.00 -307833.00 INR Tens of Million Jul 2026
Government Debt to GDP 81.85 81.13 percent of GDP Dec 2025
Government Revenues 1306709.00 1049243.00 INR Tens of Million Jul 2026
Government Spending 8548.77 7661.77 INR Billion Jun 2026
Government Spending to GDP 14.19 14.26 percent of GDP Dec 2025
Holidays
Military Expenditure 92057.00 85597.10 USD Million Dec 2025


India Central Government Budget Value
The government budget balance is the difference between government revenues and expenses. The budget is balanced when outlays equal to receipts, the country reports budget surplus when revenues are higher than expenses and deficit when expenses exceed the revenues. In India, government budget value refers to the cumulative amount of the central government fiscal deficit for current fiscal year.
Actual Previous Highest Lowest Dates Unit Frequency
-455144.00 -307833.00 -9406.00 -1821461.00 1997 - 2026 INR Tens of Million Monthly
Current Prices, NSA

News Stream
India’s Fiscal Deficit Narrows in April-July
India’s fiscal deficit stood at INR 4.6 trillion in April-July 2026-27, down from INR 4.7 trillion a year earlier, reaching 26.8% of the full-year target versus 29.9% previously. Total expenditure rose 12.7% year-on-year to INR 17.6 trillion, while capital spending increased to INR 4.5 trillion from INR 3.5 trillion, reaching 36.9% of the annual target. Total receipts rose 19.3% to INR 13.1 trillion, supported by higher net tax revenues of INR 8.5 trillion, up from INR 6.6 trillion. India targets a fiscal deficit of INR 17.0 trillion, or 4.3% of GDP, for 2026-27.
2026-08-31
India Fiscal Deficit Widens
India's fiscal deficit surged to INR 3.1 trillion in the first quarter of FY2027 from INR 280 billion in the corresponding period of the previous year. This was equivalent to 28.7% of the current budget estimate, which is commonly depleted toward the end of the fiscal year, compared to 26.7% in the previous year. As a net energy importer, the country is grappling with rising fuel subsidy costs due to elevated oil prices linked to the ongoing Middle East conflict. Total expenditure surged 11.0% year-on-year to INR 13.5 trillion (25.4% of budgeted amount), while total receipts rose by 11.5 to INR 10-5 trillion (28.7% of the budgeted amount).
2026-07-31
India’s Fiscal Deficit Widens in April-May
India’s fiscal deficit widened sharply to INR 1.6 trillion in April-May 2026-27, up from INR 0.1 trillion a year earlier, reaching 9.6% of the full-year target compared to 0.8% in the same period last year. As a net energy importer, the country is grappling with rising fuel subsidy costs due to elevated oil prices linked to the ongoing Middle East conflict. Total expenditure surged 18.1% year-on-year to INR 8.8 trillion (16.5% of the target), while capital spending, primarily on infrastructure, rising to INR 2.5 trillion (20.5% of the annual plan, up from INR 2.2 trillion). Meanwhile, total receipts declined by 2% to INR 7.2 trillion (19.7% of the annual goal), including net tax revenues of INR 3.5 trillion, unchanged from a year ago. India has set its fiscal deficit target for 2026-27 at 4.3% of GDP, or INR 17.0 trillion.
2026-06-30