Fiscal deficit at 54.5% of FY26 budget estimates

Centre's fiscal deficit narrowed 6.4% year-on-year to Rs 8.56 lakh crore in April-December FY26, according to data released by the Ministry of Finance. The Government of India has received Rs 25,25,156 crore (72.2% of corresponding BE 2025-26 of Total Receipts) upto December, 2025 comprising Rs 19,39,254 crore of Tax Revenue (Net to Centre), Rs 5,39,855 crore of Non-Tax Revenue and Rs 46,047 crore of Non-Debt Capital Receipts. Rs 10,38,164 crore has been transferred to State Governments as Devolution of Share of Taxes by Government of India during this period which is Rs 1,37,014 crore higher than the previous year.

Total Expenditure incurred by Government of India is Rs 33,80,998 crore (66.7% of corresponding BE 2025-26), out of which Rs 25,93,063 crore is on Revenue Account and Rs 7,87,935 crore is on Capital Account. Out of the Total Revenue Expenditure, Rs 9,11,059 crore is on account of Interest Payments and Rs 3,17,490 crore is on account of Major Subsidies.

 

The deficit for the current FY accounted for 54.5% of the full-year Budget estimate of Rs 15.69 lakh crore, marking an improvement from 56.7% in the corresponding stretch last year.

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