Industry Odisha Bureau, Sep 01: The Controller General of Accounts (CGA) in its latest monthly accounts reportedly released yesterday (August 31) has stated that the fiscal deficit of India stood at Rs 4.55 trillion i.e. 26.8% of the full-year budget estimate by July end of the current fiscal year 2026-27 (FY27).
Media reports, citing the CGA data, stated that, “As the government expenditure continued to exceed receipts, the deficit went up to 26.8% of the annual target by July 2026 from 18.2% by June 2026 end. Counting on robust tax collections and higher non-tax revenues to meet the target in the ensuing months of the ongoing fiscal year, the Government of India (GoI) has budgeted a fiscal deficit of Rs 16.96 trillion i.e. 4.3% of the Gross Domestic Product (GDP) for the fiscal year 2026-27 (FY27)”.
Notably, “Fiscal Deficit is the gap between the Government’s total expenditure and receipts, excluding borrowings”.
