 "India's Apr-Sep fiscal deficit hits ₹5.73 trillion, 36.5% of FY26 estimate")
The Centre’s fiscal deficit for the first half of the financial year 2025–26 (H1FY26) stood at ₹5,73,123 crore, or 36.5 per cent of the Budget Estimates (BE), according to data released by the Controller General of Accounts (CGA) on Friday. During the same period last year, the fiscal deficit stood at 29 per cent of the BE.
Fiscal deficit represents the gap between the government’s total expenditure and its total receipts, excluding borrowings.
Receipts near half of full-year estimate
According to CGA data, the Centre’s total receipts through September amounted to ₹17,30,216 crore, or 49.5 per cent of the BE for FY26. This included ₹12,29,370 crore from tax revenue (net to Centre), ₹4,66,076 crore from non-tax revenue, and ₹34,770 crore from non-debt capital receipts.
Expenditure rises on interest and subsidies
Total expenditure during April–September stood at ₹23,03,339 crore, or 45.5 per cent of the BE. Of this, ₹17,22,593 crore was spent on the revenue account and ₹5,80,746 crore on the capital account.
Major outgoings under the revenue account included ₹5,78,182 crore towards interest payments and ₹2,02,367 crore on major subsidies, the CGA said.
Transfers to states rise sharply
The Centre transferred ₹6,31,751 crore to state governments as their share of taxes, ₹86,948 crore higher than the corresponding period last year, according to the CGA.