The Union government's fiscal deficit reached 21.4% of the budgeted target in April for fiscal 2027, according to the Controller General of Accounts. The fiscal deficit was Rs 3.62 lakh crore, as per data released on Monday. This is nearly double than the fiscal deficit in the previous fiscal.
This comes as expenses rise in this fiscal amid the ongoing US-Iran war. The war has severely impacted the crude prices in the last few months. As the crude prices surges, India continued to cut SAED of windfall taxes. In addition, the OMCs and the government have not passed on the full impact of the severe spike in price to the citizens.
The revenue deficit was 30.8% of the fiscal target at Rs 1.82 lakh crore. Revenue expenditure includes regular costs like salaries, pensions, interest payments, and subsidies.
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In contrast, revenue receipts come from taxes, non-tax income, and grants. The revenue receipts in April stood at Rs 2.03 lakh crore or 5.7% of the budget estimate.
The total expenditure was Rs 5.75 lakh crore or 10.8% of the budget estimate.
Fiscal 2026
Fiscal deficit reached 97.5% of the budgeted target for fiscal 2026, according to the Controller General of Accounts. The fiscal deficit was 4.4% of the GDP. The fiscal deficit was Rs 15.19 lakh crore with the revenue deficit at Rs 18.20 lakh crore. The revenue receipts in the last fiscal stood at Rs 338.60 lakh crore.
The total expenditure was Rs 490.52 lakh crore.
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