India’s fiscal deficit for April–October climbed to ₹8.25 trillion, amounting to 52.6% of the FY26 target, government data show. Net tax receipts stood at ₹12.74 trillion, slightly lower than a year earlier, while higher non-tax revenue and stepped‑up capital spending underline the Centre’s balancing act between consolidation and growth.
Fresh data from the Controller General of Accounts show the Union government’s fiscal deficit at ₹8.25 trillion in the first seven months of FY26, or 52.6% of the full‑year estimate for the year ending March 2026. The gap has widened in rupee terms versus last year as New Delhi accelerates expenditure, particularly on infrastructure and capex-heavy programmes.
Net tax receipts between April and October totalled ₹12.74 trillion, marginally below the ₹13.05 trillion collected in the same period a year ago, reflecting softer growth in direct and indirect taxes even as nominal GDP remains strong. Non-tax revenue, supported by higher dividends and interest income, rose to about ₹4.89 trillion, while overall spending reached ₹26.26 trillion, driven by capital expenditure of ₹6.18 trillion on roads, railways and other physical assets.
Key highlights
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April–October fiscal deficit: ₹8.25 trillion, 52.6% of FY26 full‑year target.
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Net tax receipts: ₹12.74 trillion vs ₹13.05 trillion a year earlier.
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Non-tax revenue increases to ₹4.89 trillion from ₹4 trillion last year.
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Total expenditure: ₹26.26 trillion; capital spending at ₹6.18 trillion, sharply higher year-on-year.
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Government reiterates fiscal consolidation roadmap, targeting a deficit of about 4.4% of GDP for FY26 even as it sustains growth-supportive outlays.
Sources: Controller General of Accounts monthly fiscal report; Reuters/MarketScreener; Economic Times; Financial Express; All India Radio/NewsOnAir; Business Standard.