Fiscal deficit rises to Rs 5.73 lakh crore despite steady trend in govt receipts

The monthly accounts of the Government of India upto the month of September, 2025 have been published. The Government of India has received Rs 17.30 lakh crore (49.5% of corresponding BE 2025-26 of Total Receipts) upto September, 2025 comprising Rs 12.29 lakh crore of Tax Revenue (Net to Centre), Rs 4.66 lakh crore of Non-Tax Revenue and Rs 34,770 crore of Non-Debt Capital Receipts. Data showed that Rs 6.31 lakh crore has been transferred to State Governments as Devolution of Share of Taxes by Government of India during this period which is Rs 86,948 crore higher than the previous year.

Total Expenditure incurred by Government of India is Rs 23.03 lakh crore (45.5% of corresponding BE 2025-26), out of which Rs 17.22 lakh crore is on Revenue Account and Rs 5.80 lakh crore is on Capital Account. Out of the Total Revenue Expenditure, Rs 5.78 lakh crore is on account of Interest Payments and Rs 2.02 lakh crore is on account of Major Subsidies.

India’s fiscal deficit for the April–September period stood at Rs 5.73 lakh crore, equivalent to 36.5% of the full-year target, up from 29.4% in the same period last year.