India's April-July Fiscal Deficit Widens To 29.9% Of FY26 Target

India's fiscal deficit in April-June stood at 29.9% of the fiscal year 2026 target of Rs 15.69 lakh crore.

The fiscal deficit for the four months came in at Rs 4.68 lakh crore as compared to Rs 2.76 lakh crore in the year-ago period, according to the official data released on Friday.

Total expenditure in the first four months came in at Rs 15.6 lakh crore, up from Rs 13 lakh crore in the April–July period of the last fiscal. Of this, capital expenditure rose to Rs 3.46 lakh crore from Rs 2.61 lakh crore. The revenue deficit for the period under review was at Rs 1.5 lakh crore.

On the revenue front, gross tax collections for the April–July 2025 period stood at Rs 10.92 lakh crore, up slightly from Rs 10.84 lakh crore last year. Non-tax revenue showed a stronger increase, rising to Rs 4.03 lakh crore from Rs 3.01 lakh crore.

Total receipts for the month also rose to Rs 10.95 lakh crore from Rs 10.23 lakh crore in the corresponding period of the last fiscal. State tax devolution during the same period stood at Rs 4.28 lakh crore as against Rs 3.66 lakh crore in the year-ago period.