India's fiscal deficit hits 36.5% of FY26 target in H1
India's fiscal deficit for the first half of FY26 has reached ₹5.73 lakh crore—already 36.5% of the full-year goal, and up from 29.4% at this point last year.
The government brought in ₹17.3 lakh crore in total receipts (almost half the budgeted amount), while spending stood at ₹23.03 lakh crore, or about 45% of what's planned for the whole year.
Revenue deficit at ₹27,147 crore
Most revenue came from taxes (₹12.29 lakh crore), but non-tax sources like the RBI's hefty ₹2.69 lakh crore dividend also helped narrow the gap a bit, bringing total revenue receipts to ₹16.95 lakh crore so far.
Even with that boost, there was still a revenue deficit of ₹27,147 crore (about 5% of annual target).
The government says it's sticking to its plan to bring down the fiscal deficit to 4.4% of GDP by FY26, aiming for steady economic growth and financial stability going forward.