⭐ Fiscal Snapshot: Centre’s Deficit at 52.6% of FY26 Target by October as Receipts and State Transfers Rise

The Union government’s fiscal deficit reached 52.6% of the full-year target by the end of October 2025, according to data released by the Controller General of Accounts (CGA) on Friday. During the same period last year, the deficit stood lower at 46.5% of the 2024–25 Budget Estimates.

In value terms, the fiscal deficit — the difference between total expenditure and revenue — touched ₹8.25 lakh crore during April–October 2025, out of the Centre’s full-year target of ₹15.69 lakh crore, or 4.4% of GDP.

💰 Government Revenues Touch 51.5% of FY26 Estimates

Up to October, the Centre collected ₹18 lakh crore, representing 51.5% of the total Budget Estimates for FY26. This includes:

• ₹12.74 lakh crore in net tax revenue
• ₹4.89 lakh crore in non-tax revenue
• ₹37,095 crore as non-debt capital receipts

A notable development was the sharp rise in tax devolution to states. Transfers amounted to ₹8.34 lakh crore between April and October, which is ₹1.12 lakh crore higher compared to the same period last year.

🏛️ Total Expenditure Reaches 51.8% of Full-Year Target

The Centre’s total spending during April–October stood at ₹26.25 lakh crore, or 51.8% of the annual estimate. This included:

Revenue Expenditure: ₹20 lakh crore

• ₹6.73 lakh crore spent on interest payments
• ₹2.46 lakh crore allocated to major subsidies

Capital Expenditure: ₹6.17 lakh crore

Capital spending remained a key pillar of the government’s fiscal strategy, aimed at boosting infrastructure investment and supporting long-term economic growth.

📌 Summary

• Fiscal deficit: 52.6% of FY26 target by October
• Revenue receipts: ₹18 lakh crore
• Tax devolution: ₹8.34 lakh crore, significantly higher YoY
• Total expenditure: ₹26.25 lakh crore
• Interest payments and subsidies continue to form major components of revenue spending

The data reflects rising transfers to states and robust revenue flows even as expenditure remains steady at mid-year levels.

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