Fiscal Deficit

The report suggests that growth in aggregate revenue receipts slowed to 7.2 per cent year-on-year during April-November 2025

Markets look calm, but five forces-rising debt, slowing revenues, weak savings, geopolitics and populism-signal a tougher growth phase for India

The government is likely to achieve the fiscal deficit target of 4.4 per cent of the GDP in FY26, and it could even better it, a positive signal to global investors about India's commitment to fiscal management, PwC Partner and Economic Advisory Services leader Ranen Banerjee said. The revision in the nominal GDP growth target from 10.1 per cent to 8 per cent by the National Statistical Office recently raised concerns about the government's ability to meet the fiscal deficit target. Although the nominal GDP growth rate has been revised downward to 8 per cent from 10.1 per cent, the absolute numbers are almost matching the budget estimates, he said, adding that this means the denominator is not shrinking and the government should easily meet the 4.4 per cent fiscal deficit target. It is to be noted that the government overachieved its fiscal deficit target of 4.8 per cent against 4.9 per cent of GDP pegged for FY25. "It has a headroom to actually better it. We believe that optically

Chief Minister Pramod Sawant has sought a more equitable Centre-state funding pattern under centrally sponsored schemes, taking into account Goa's coastal challenges, Western Ghats ecology, and national tourism responsibilities. Sawant attended the pre-budget Meeting for the Union Budget 2026-27, chaired by Union Finance Minister Nirmala Sitharaman, in New Delhi on Saturday. Finance ministers of various states and Union Territories and other senior officials participated in the meeting. Later, Sawant, in a statement, said the meeting involved detailed deliberations on key provisions and priorities for the upcoming Union Budget. "Goa's perspectives, demands, and developmental requirements were presented, with a focus on sustaining momentum in critical infrastructure projects," he said. The CM said Goa also sought to strengthen social welfare schemes, ensuring continued support for capital investment, carrying forward state-specific Finance Commission recommendations, and seeking a .

BMI said fresh spending needs and lower tax receipts could push the deficit higher even if the government sets a 4.3 per cent fiscal deficit target in the 2026-27 Budget

Slower nominal GDP growth in FY26 may not hurt deficit math, but weak tax buoyancy and a slipping tax-to-GDP ratio signal rising stress on revenue collections

The Budget estimates for this year had assumed a nominal GDP growth of 10.1 per cent

CGA data showed the Centre's fiscal deficit rose to Rs 9.77 trillion, or 62.3 per cent of FY26 Budget estimates, in April-November as capex surged and net tax revenue slipped

UP's finance minister Suresh Khanna says disciplined spending, revenue surpluses and rising capex have helped India's most populous state maintain fiscal stability while expanding infrastructure

Real GDP growth surprised on the upside in 2025, but weaker nominal growth, trade uncertainty, and soft demand signal a bumpier road ahead

10 states with the highest debt to GSDP ratio have debt levels above 30% of GSDP

CareEdge Ratings expects 7% growth in FY27, citing a possible US-India trade deal, low inflation and strong capex, while warning US tariffs could weigh on goods exports

Weak tax collections in October pushed Bihar's fiscal deficit to three times the FY26 budget estimate in seven months, with pre-poll spending adding pressure

Despite strong real growth, slowing nominal GDP and a sharply weaker deflator raise fiscal concerns, challenging Budget assumptions for FY26

Indian Rupee touched a new record low of 89.97 against the US dollar on December 1, 2025, amid delays in the India-US trade agreement, and limited RBI intervention

In the preceding quarter, the current account had recorded a deficit of $2.4 billion ot 0.2 per cent of GDP

Experts said meeting the gross tax revenue budget target of ₹42.7 trillion would be difficult as it would require a Y-o-Y expansion of 22 per cent in the November-March FY26 period.

Capital expenditure, or spending on building physical infrastructure, at ₹6.18 trillion against ₹4.7 trillion a year ago

Twenty-five years after its creation, Jharkhand continues to struggle with slow economic growth, high multidimensional poverty and persistent tribal welfare gaps despite fiscal improvements

As things stand, Chief Minister Nitish Kumar is expected to lead the government again and, having been mostly at the helm since 2005, is well aware of where the state stands