India's 2025/26 fiscal deficit at 4.4%, in line with government estimates

India’s fiscal deficit stood at 4.4% of the gross domestic product for the year ended March 31, 2026, data showed on Monday, in line with government’s revised estimates.

The deficit was at 15.19 trillion rupees ($159.91 billion), or 97.5% of the government’s revised estimates presented in February.

In April, the fiscal deficit amounted to 21.4% of the budgeted target for the full year ending March 2027, data showed.

India’s trade deficit widens to USD28.38bn in April

Key numbers for 2025/26

Net tax receipts at 33 trillion rupees ($347.40 billion), up from 30.87 trillion rupees collected in the same period a year ago.

Non-tax revenue at 6.8 trillion rupees, compared with 5.31 trillion rupees a year ago.

Total government expenditure at 49 trillion rupees compared with 47.16 trillion rupees a year earlier.

Capital expenditure, or spending on building physical infrastructure, stood at 10.7 trillion rupees against 10.18 trillion rupees a year ago.