India fiscal deficit hits 80.4 percent of annual target
India reported a fiscal deficit of 12.5 trillion rupees for the eleven months through February. Net tax receipts rose to 21.5 trillion rupees in this period.
The fiscal deficit for India reached 12.5 trillion rupees ($132 billion) during the April-February period, representing 80.4% of the target for the financial year ending March 31, 2026. Government data released on Monday indicates that the deficit is tracking within expectations as the fiscal year concludes. Revenue performance remained steady, with net tax receipts reaching 21.5 trillion rupees, an increase from the 20.2 trillion rupees recorded during the same period last year. Non-tax revenue also rose to 5.8 trillion rupees, compared to 4.9 trillion rupees in the previous year. Total government expenditure for the period was 40.4 trillion rupees, up from 38.9 trillion rupees a year earlier. Notably, capital expenditure, which focuses on building physical infrastructure, grew to 9.3 trillion rupees from 8.1 trillion rupees in the prior year.
