The Union government's fiscal deficit reached 80.4% of the budgeted target by the end of the first 11 months of fiscal 2026.
The gap between expenditure and revenue stood at Rs 12.53 lakh crore from April to February, against the full-year target of Rs 15.58 lakh crore, according to provisional data released on Friday by the Controller General of Accounts. In the same period last year, the fiscal deficit was Rs 13.46 lakh crore.
Net tax collections remains robust, with the cumulative mop-up reaching nearly Rs 21.45 lakh crore, or 80.2% of the yearly target. Till January, the tax mop up had reached only 78.3% of the target. In the year-ago period net tax collections stood 79.6% of the FY25 target.
Capital expenditure continued to surge, reaching Rs 9.29 lakh crore or 84.8% of the FY26 target. Till the preceding month, capex stood at Rs 8.42 lakh crore or 76.9% of the annual target.
The Centre's revenue deficit in the April-February period widened to 3.89 lakh crore from Rs 1.96 lakh crore till January, reaching 73.8% of the annual target. However, it clocked a sharp decline from the year-ago period, when it had already reached 87.1% of the FY25 target.
ALSO READ: India's February IIP Growth Rises To 5.2% As Manufacturing Output Climbs
The total expenditure during the first 11 months of this fiscal stood at Rs 40.44 lakh crore, which is 81.5% of the FY26 estimated target, lower than 82.5% it had reached in the year-ago period.
The government's total receipts for April-February stood at Rs 27.91 lakh crore, which is 82% of the full-year target. In the comparable year-ago period, the mop-up stood lower at 80.9%.
Revenue receipts which are lead by tax collections reached 81.6% of the annual target in the first 11 months as they stood at Rs 27.26 lakh crore.
Notably, the non-tax collection revenue narrowed to 87% of its annual target, of which collection of dividends and profits reached 96% of the annual target.
Collection of dividends and profits by the end of January remained stagnant at Rs 3.6 lakh crore. In the comparable period of the last fiscal, the collections had reached 104% of the annual target.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
