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India’s fiscal deficit for the period from April to February stood at ₹13.47 trillion, accounting for 85.8 pc of the full-year target, according to government data released on Friday. The figures indicate the country’s fiscal performance as it nears the end of the financial year on March 31.
The government’s net tax receipts for the 11-month period reached ₹20.16 trillion, representing 78.8 pc of the annual target.
This marks an increase from ₹18.49 trillion recorded in the same period last year. Meanwhile, total government expenditure stood at ₹38.93 trillion, or 82.5 pc of the budget estimate for the year.
A key component of government spending, capital expenditure—allocated for infrastructure development—reached ₹8.12 trillion, amounting to 79.7 pc of the annual target.
The government has been prioritising capital expenditure to boost economic growth and create jobs.
In its annual budget announced in February, the Indian government revised its fiscal deficit target for the current financial year to 4.8 pc of GDP, lowering it from previous estimates.
The aim is to further reduce the fiscal deficit to 4.4 pc of GDP in the 2025-26 financial year as part of a broader fiscal consolidation strategy.
Looking ahead, the government plans to adopt the debt-to-GDP ratio as the primary fiscal policy benchmark from 2026-27.
The objective is to gradually bring down the debt level to 50 pc of GDP by March 2031, compared to the current level of approximately 57 pc.
The latest fiscal data reflects the government’s efforts to balance economic expansion with fiscal discipline, while also ensuring sufficient capital expenditure to support infrastructure and long-term growth.
