Data Alert
India Apr fiscal deficit at 11.9% of FY26 aim, capex zooms 61%
This story was originally published at 19:43 IST on 30 May 2025
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--Govt Apr fiscal deficit INR 1.863 tln vs INR 2.101 tln year ago
--Govt Apr total expenditure INR 4.656 tln vs INR 4.235 tln year ago
--Govt Apr total receipts INR 2.793 tln vs INR 2.133 tln year ago
--Govt Apr capital expenditure INR 1.598 tln vs INR 992 bln year ago
--Govt Apr non-tax revenue INR 672 bln vs INR 273 bln year ago
--Govt Apr gross tax revenue INR 2.715 tln vs INR 2.550 tln year ago
NEW DELHI – The government's fiscal deficit in April was INR 1.863 trillion, accounting for 11.9% of the Budget estimate of INR 15.689 trillion for the current financial year, data from the Controller General of Accounts Friday showed.
The fiscal deficit in April down 11.3% on year. In April 2024, the fiscal deficit had accounted for 13.0% of the FY25 target. Government's revenue deficit was down 56.2% in April at INR 490 billion.
Total receipts of the government rose 30.9% on year in April to INR 2.793 trillion, while total expenditure was up 10.0% at INR 4.656 trillion during the month. Capital expenditure jumped 61.0% on year to INR 1.60 trillion April, but was down from March's record high capital spending of INR 2.40 trillion.
Total receipts were driven higher by a 146% rise in non-tax revenue to INR 671 billion in April. Other receipts of INR 214 billion also added to government's revenue last month.
The Budget for FY26 has targeted a fiscal deficit of 4.4% of GDP, assuming nominal GDP growth of 10.1%. Data released Friday showed the government's fiscal deficit in FY25 met the revised Budget estimate of 4.8% of GDP.
The Controller General of Accounts detailed the government's accounts for April as follows (in INR billion):
| April 2025 | March 2025 | April 2024 | Year-on-year % change | |
| Revenue receipts | 2,568.29 | 5,274.76 | 2,122.93 | 21.0% |
| Net tax revenue | 1,896.69 | 4,832.51 | 1,849.98 | 2.5% |
| Non-tax revenue | 671.60 | 442.25 | 272.95 | 146.1% |
| Recovery of loans | 10.48 | 29.61 | 10.41 | 0.7% |
| Other receipts | 214.11 | 14.93 | 0 | -- |
| Total receipts | 2,792.88 | 5,319.30 | 2,133.34 | 30.9% |
| Revenue expenditure | 3,058.30 | 5,222.28 | 3,242.35 | (-)5.7% |
| Capital expenditure | 1,597.90 | 2,401.20 | 992.35 | 61.0% |
| Total expenditure | 4,656.20 | 7,623.48 | 4234.7 | 10.0% |
| Fiscal deficit | 1,863.32 | 2,304.18 | 2,101.36 | (-)11.3% |
| Revenue deficit | 490.01 | (-)52.48 | 1,119.42 | (-)56.2% |
End
Reported by Shubham Rana
Edited by Deepshikha Bhardwaj
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