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Informist, Monday, Mar. 30, 2026

 

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--Govt Apr-Feb fiscal deficit INR 12.526 tln vs INR 13.469 tln year ago 
--Govt Apr-Feb fiscal deficit 80.4% of revised FY26 target of INR 15.585 tln 
--Govt Feb non-tax revenue INR 239 bln vs INR 257 bln year ago 
--Govt Feb total receipts INR 833 bln vs INR 1.459 tln year ago 
--Govt Feb capital expenditure INR 870 bln vs INR 545 bln year ago 
--Govt Feb total expenditure INR 3.545 tln vs INR 3.232 tln year ago 
--Govt Feb fiscal deficit INR 2.712 tln vs INR 1.773 tln deficit year ago 
--Govt Apr-Feb non-tax revenue INR 5.812 tln vs INR 4.933 tln year ago 
--Govt Apr-Feb total receipts INR 27.919 tln vs INR 25.463 tln year ago 
--Govt Apr-Feb capital expenditure INR 9.293 tln vs INR 8.119 tln year ago 
--Govt Apr-Feb total expenditure INR 40.446 tln vs INR 38.932 tln year ago 
 

 

NEW DELHI – The government's fiscal deficit fell 7.0% on year to INR 12.526 trillion in Apr-Feb, data released Monday by the Controller General of Accounts showed. With this, the deficit in the first eleven months of the financial year accounted for 80.4% of the revised estimate of INR 15.585 trillion for 2025–26 (Apr-Mar). The fiscal deficit in Apr-Feb last year accounted for 85.8% of the FY25 target. 

 

The government's total expenditure rose 3.9% to INR 40.446 trillion during Apr-Feb, while total receipts increased 9.7% to INR 27.919 trillion. Capital expenditure rose 14.5% to INR 9.293 trillion in the eleven months of FY26.

 

The capital expenditure in Apr-Feb was 84.8% of the revised estimate of INR 10.958 trillion for FY26. The government had last achieved 79.7% of its capital spending target in the first eleven months of the year.

 

Non-tax revenue in Apr-Feb was INR 5.812 trillion, 17.8% higher than a year ago, largely due to the Reserve Bank of India's record-high surplus transfer of INR 2.69 trillion in May. The government's net tax revenue rose 6.4% to INR 21.452 trillion during the period. The government's gross tax collections in Apr-Feb were up 6.7% to INR 34.195 trillion.

 

For February, the government reported a fiscal deficit of INR 2.712 trillion, up 53% from a year ago. This was on account of 43?ll in total receipts to INR 833 billion, primarily due to a 54.5?cline in net tax revenue to INR 510 billion in the month. The government's non-tax revenue also fell 7.1% to INR 239 billion in February. 

 

Meanwhile, total expenditure rose 9.7% to INR 3.545 trillion in February, out of which, capital expenditure was INR 870 billion, 59.6% higher than a year ago. The government needs to spend INR 1.664 trillion in March to build capital and meet the revised target for FY26. Considering the government's capital expenditure of INR 2.401 trillion in March last year, there is a good chance it will meet the aim. 

 

The Controller General of Accounts detailed the government's accounts for February and Apr-Feb as follows (in INR billion):

 

	Feb-26	Jan-26	Feb-25	Year-on-year % change
Revenue receipts	748.71	1,724.16	1,377.65	(-)45.7
Net tax revenue	510.05	1,549.64	1,120.76	(-)54.5
Non-tax revenue	238.66	174.52	256.89	(-)7.1
Other receipts	67.92	93.38	66.90	1.5
Total receipts	832.89	1,834.98	1,459.05	(-)42.9
Interest payments	770.03	772.43	773.83	(-)0.5
Revenue expenditure	2,674.90	2,547.17	2,686.87	-0.4
Capital expenditure	870.41	543.46	545.28	59.6
Total expenditure	3,545.31	3,090.63	3,232.15	9.7
Fiscal deficit	2,712.42	1,255.65	1,773.10	53.0
Revenue deficit	1,926.19	823.01	1,309.22	47.1
Primary deficit	1,942.39	483.22	999.27	94.4

 

 

	Apr-Feb FY26	Apr-Feb FY25	Year-on-year % change	FY26 Revised estimates	% of actuals to estimates
					FY26	FY25
Revenue receipts	27,263.96	25,089.53	8.7	33,423.23	81.6	81.2
Net tax revenue	21,452.23	20,156.34	6.4	26,746.61	80.2	78.8
Non-tax revenue	5,811.73	4,933.19	17.8	6,676.62	87.0	92.9
Other receipts	439.51	157.09	179.8	338.37	129.9	47.6
Total receipts	27,919.43	25,463.17	9.6	34,063.50	82.0	80.9
Interest payments	10,653.05	9,528.44	11.8	12,743.38	83.6	83.7
Revenue expenditure	31,152.70	30,812.82	1.1	38,690.87	80.5	83.3
Capital expenditure	9,293.22	8,118.87	14.5	10,957.55	84.8	79.7
Total expenditure	40,445.92	38,931.69	3.9	49,648.42	81.5	82.5
Fiscal deficit	12,526.49	13,468.52	-7.0	15,584.92	80.4	85.8
Revenue deficit	3,888.74	5,723.29	-32.1	5,267.64	73.8	93.8
Primary deficit	1,873.44	3,940.08	-52.5	2,841.54	65.9	91.3

 

End

 

Reported by Krity Ambey

Edited by Saji George Titus

 

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