India recorded a Government Budget deficit equal to 4.80 percent of the country's Gross Domestic Product in 2024. This dataset provides - India Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news.

For the financial year 2022, according to the budget estimate, the fiscal deficit for states as a percent of GDP was *** percent. However, to overcome the crises caused by the COVID-19 pandemic, an economic package to the tune of ** billion U.S. dollars was sanctioned. This led to a rise of ** basis points. Thereby speculations rose related to an increase in the fiscal deficit, similar to what occurred during the 2008 financial crises.

India State Government : Gross Fiscal Deficit data was reported at 10,391,381.307 INR mn in 2025. This records an increase from the previous number of 10,368,187.921 INR mn for 2024. India State Government : Gross Fiscal Deficit data is updated yearly, averaging 434,740.000 INR mn from Mar 1971 (Median) to 2025, with 55 observations. The data reached an all-time high of 10,391,381.307 INR mn in 2025 and a record low of 9,010.000 INR mn in 1971. India State Government : Gross Fiscal Deficit data remains active status in CEIC and is reported by Ministry of Finance. The data is categorized under Global Database’s India – Table IN.FC001: State Government: Receipts and Disbursements.

Key information about India Consolidated Fiscal Balance: % of GDP

• India Consolidated Fiscal Balance recorded a deficit equal to 4.9 % of its Nominal GDP in Dec 2024, compared with a deficit equal to 4.5 % in the previous quarter
• India Consolidated Fiscal Balance to GDP data is updated quarterly, available from Mar 2005 to Dec 2024, with an average ratio of -4.5 %
• The data reached an all-time high of -1.9 % in Jun 2008 and a record low of -9.2 % in Mar 2021

CEIC calculates quarterly Consolidated Fiscal Balance as % of Nominal GDP from monthly Consolidated Fiscal Balance and quarterly Nominal GDP. The Controller General of Accounts provides Consolidated Fiscal Balance in local currency. Ministry of Statistics and Programme Implementation provides Nominal GDP in local currency based on SNA 2008, at 2011-2012 prices. Consolidated Fiscal Balance covers Central Government only. Nominal GDP prior to Q1 2012 is based on a combination of SNA 2008 and SNA 1993, at 2004-2005 prices.


Further information about India Consolidated Fiscal Balance: % of GDP

• In the latest reports, India National Government Debt reached 2,144.6 USD bn in Sep 2024
• India Nominal GDP reached 873.7 USD bn in Mar 2023

Fiscal Deficits of the Centre, States, Centre and States combined and as percentages of respective GDPs from 1990-91 to 2017-18

India recorded a government budget deficit of 598153 INR Tens of Million in August of 2025. This dataset provides the latest reported value for - India Government Budget Value - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

In fiscal year 2025, the ratio of revenue deficit to GDP in India was estimated to be around two percent, down from *** percent in fiscal year 2022. The ratio was estimated to remain stable in 2024.

India Union Budget: BE: Fiscal Deficit data was reported at 15,689,360.000 INR mn in 2026. This records a decrease from the previous number of 16,133,120.000 INR mn for 2025. India Union Budget: BE: Fiscal Deficit data is updated yearly, averaging 5,223,835.000 INR mn from Mar 2001 (Median) to 2026, with 26 observations. The data reached an all-time high of 17,868,160.000 INR mn in 2024 and a record low of 1,112,750.000 INR mn in 2001. India Union Budget: BE: Fiscal Deficit data remains active status in CEIC and is reported by Ministry of Finance. The data is categorized under India Premium Database’s Government and Public Finance – Table IN.FB002: Union Budget: At A Glance: Budget Estimates.

In fiscal year 2026, the primary deficit as a share of GDP in India was projected to be almost *** percent. This figure stood at *** percent in fiscal year 2021. Primary deficit indicates a government's borrowing requirements, excluding interest.

In financial year 2021, due to the impact of COVID-19 on the national economy and extra public expenditure on healthcare and various social programs, the fiscal deficit rose to *** percent. The revenue deficit was at *** percent, effective revenue deficit at *** percent, and primary deficit rose to *** percent of India's gross domestic product (GDP). Fiscal deficit is the difference between the total income of the government and its total expenditure, while the revenue deficit occurs when realized net income is less than the projected net income. Effective revenue deficit is the difference between revenue deficit and grants for creation of capital assets. Primary deficit indicates a government's borrowing requirements, excluding interest.

The gross fiscal deficit across Bihar in India in financial year 2024 was about *** billion Indian rupees. This was a significant decrease compared to the previous year, when the deficit was estimated at around *** billion Indian rupees.

Fiscal Expenditure in India increased to 1880862 INR Tens of Million in August from 1563625 INR Tens of Million in July of 2025. This dataset provides - India Fiscal Expenditure- actual values, historical data, forecast, chart, statistics, economic calendar and news.

The dataset contains All India Yearly Central Government Deficit Indicators from Handbook of Statistics on Indian Economy.

Note: 1. Data for 2023-24 are Revised Estimates and data for 2024-25 are Budget Estimates. 2. Primary Revenue Deficit is Revenue Deficit net of interest payments. 3. Drawdown of cash balances represents conventional budget deficit prior to 1997-98. With discontinuation of the ad hoc treasury bills and 91-day tap treasury bills, the concept of conventional budget deficit has lost its relevance since April 1,1997. 4. Net RBI Credit represents variation over end-March, as per RBI records, after closure of Government accounts. 5. Negative (-) sign indicates surplus. 6. Since 1999-2000, Gross Fiscal Deficit excludes States’ share in Small Savings as per the new system of accounting.

The gross fiscal deficit across Andhra Pradesh was about *** billion Indian rupees in financial year 2024. This was an increase from the previous year, when the deficit was estimated to be *** billion Indian rupees.

The dataset contains All India Yearly State Government Gross Fiscal Deficits from Handbook of Statistics on Indian Economy.

Note: 1. Data for 2022-23 relate to Revised Estimates while 2023-24 are Budget Estimates. 2. Data from 2017-18 onwards pertains to all the States and UTs with legislatures. 3. Data relate to 29 State Governments. 4. Receipts include revenue receipts and non-debt capital receipts other than recoveries. 5. Expenditure includes revenue expenditure, capital outlay and loans and advances, net of recoveries. 6. All figures of Financing of Gross Fiscal Deficit are on a net basis. 7. With the change in the system of accounting with effect from 1999-2000, States’ share in small savings which was included earlier under loans from the Centre is shown separately as special securities issued to National Small Savings Fund (NSSF) under internal debt 8. Others consist of State Provident Fund, loans from financial institutions, reserve funds, deposits and advances, etc. 9. Receipts include revenue receipts and miscellaneous capital receipts. 10. Expenditure includes revenue expenditure, capital outlay, and loans and advance of net recoveries.

The table shows the figures of gross fiscal deficit for the different states in Rs. Billion from 1980-81 to 2016-17(B.E.)

In fiscal year 2023, the ratio of primary revenue deficit to GDP in India was reported to be at *** percent, down from nearly **** percent in fiscal year 2021. A primary deficit marks the difference between the revenue deficit and the interest paid on borrowings.

The table provides the segregation of the gross fiscal deficit into its different components for the different states into revenue deficit, capital outlay, net lending, NDCR and GFD from 1980-81 to 2009-10 (B.E.)

The dataset contains All India Central Government Gross Fiscal Deficits from Handbook of Statistics on Indian Economy.

Note: 1. Data for 2023-24 are Revised Estimates and data for 2024-25 are Budget Estimates. 2. GFD receipts includes revenue receipts and disinvestments proceeds from 1991-92 onwards and only revenue receipts for all other years. 3. GFD expenditure includes revenue expenditure, capital outlay and loans and advances net of recoveries. 4. Drawdown of cash balances represent variation in ad hoc treasury bills issued net of changes in cash balances with RBI up to March 31,1997. 5. 2017-18 onwards Market Borrowings include dated securities only. Prior to that market borrowing comprise dated securities, 364-day treasury bills and net impact of switching off of securities. 6. Prior to 2017-18 Other borrowings comprise small savings, state provident fund, special deposits, reserve funds, treasury bills excluding 364-day treasury bills,etc. 2017-18 onwards Other borrowings also include 364-day treasury bills and net impact of switching off of securities.

In fiscal year 2024, the gross fiscal deficit across the Indian state of Goa was about ** billion Indian rupees. This was a decrease compared the previous year when the estimated deficit stood at ** billion Indian rupees.