India's fiscal deficit hits 62% of annual target already

Business Dec 31, 2025

India's fiscal deficit from April to November 2025 has reached ₹9.8 trillion (about $109 billion), which is already 62% of the government's full-year target for FY26.
This target—set at 4.4% of GDP—is meant to keep spending in check while still supporting the economy.

Tax struggles, but investment stays strong

Tax collections have dipped a bit compared to last year, with net receipts down to ₹13.9 trillion from ₹14.4 trillion, hinting at some collection challenges.
On the bright side, non-tax revenue grew to ₹5.2 trillion and capital expenditure jumped to ₹6.6 trillion, much of which includes infrastructure investments—showing a focus on long-term growth even as officials try to balance the books in uncertain times.