India fiscal deficit hits 4.4 percent for 2025-26
India's fiscal deficit for the year ending March 2026 reached 15.19 trillion rupees, meeting the government's revised target of 4.4 percent of GDP. Total expenditure rose to 49 trillion rupees as net tax receipts grew to 33 trillion rupees during the period.
India met its fiscal deficit target of 4.4% of GDP for the year ended March 31, 2026, reaching 15.19 trillion rupees ($159.91 billion). The deficit hit 97.5% of revised government estimates released in February. The data shows India maintained its fiscal target while increasing infrastructure spending.
### Revenue Growth Offsets Rising Expenditure Net tax receipts rose to 33 trillion rupees ($347.40 billion) for the 2025/26 fiscal year, up from 30.87 trillion rupees the previous year. Non-tax revenue also climbed to 6.8 trillion rupees, compared to 5.31 trillion rupees a year ago. These gains helped balance a total government expenditure that reached 49 trillion rupees.
