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

In the financial year 2026, the estimated gross fiscal deficit in India was expected to be *** percent of the GDP. This would be a decrease from the previous year's deficit in the country. What is fiscal deficit? The fiscal deficit of the government is the difference between the total expenditure incurred and the total non-debt capital receipts of the government. It indicates the total borrowing requirements of the government. Impact from the pandemic Due to concerns over gradually slowing economic growth, the government increased its fiscal spending in early 2019. With the onset of the coronavirus (COVID-19) and consequent lockdown, the unprecedented financial stimulus package led to the worsening of the gross fiscal deficit. This further stressed the tax revenue system across the country. A major impact of the pandemic was the projection of negative quarterly growth of GDP in June 2020 across India.

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 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.

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 recorded a Government Debt to GDP of 81.92 percent of the country's Gross Domestic Product in 2024. This dataset provides - India Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

India recorded a government budget deficit of 468420 INR Tens of Million in July 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.

Delhi: Overall Surplus or Deficit data was reported at -14,789.500 INR mn in 2025. This records an increase from the previous number of -128,715.000 INR mn for 2024. Delhi: Overall Surplus or Deficit data is updated yearly, averaging 1,413.200 INR mn from Mar 1994 (Median) to 2025, with 32 observations. The data reached an all-time high of 59,179.400 INR mn in 2006 and a record low of -128,715.000 INR mn in 2024. Delhi: Overall Surplus or Deficit data remains active status in CEIC and is reported by Reserve Bank of India. The data is categorized under India Premium Database’s Government and Public Finance – Table IN.FF081: State Finances: At A Glance: NCT of Delhi.

In 2024, the national debt of India amounted to around 3.16 trillion U.S. dollars. Projections show an upward trend, with a significant increase each year. Honor thy national debtNational debt, also called government debt or public debt, is money owed by the federal government. It can be divided into internal debt, (which is owed to lenders in the country) and external debt (which is owed to foreign lenders). National debt is created and increased by using government bonds, for example, or by borrowing money from other nations due to financial struggles (well-known case in point: Greece). A quite complex issue, national debt is expected to be paid back in accordance with certain regulations overseen by the Bank for International Settlements (BIS), a financial organization owned by central banks. India’s debt is rising, but so is its economic growthIndia’s liabilities have increased significantly, and forecasts show no end in sight. While India is a fast-growing economy and considered one of the main emerging economies, the so-called BRIC countries, India has been investing and borrowing money from commercial banks as well as several non-banking finance companies, and its national debt today makes up almost 70 percent of its GDP. Luckily, even though the national debt is forecast to increase, this share of GDP is predicted to decrease, as is the trade deficit in the long run, despite a significant jump back into the red in 2017.

India State Finances: BE: Gross Fiscal Deficit: Financing: Overall Deficit: Decrease in Cash Balance data was reported at 158,320.000 INR mn in 2025. This records a decrease from the previous number of 242,738.000 INR mn for 2024. India State Finances: BE: Gross Fiscal Deficit: Financing: Overall Deficit: Decrease in Cash Balance data is updated yearly, averaging 127,145.000 INR mn from Mar 2006 (Median) to 2025, with 20 observations. The data reached an all-time high of 699,300.000 INR mn in 2015 and a record low of -33,110.000 INR mn in 2008. India State Finances: BE: Gross Fiscal Deficit: Financing: Overall Deficit: Decrease in Cash Balance data remains active status in CEIC and is reported by Reserve Bank of India. The data is categorized under India Premium Database’s Government and Public Finance – Table IN.FE002: State Finances: Financing of Gross Fiscal Deficit.

Key information about India National Government Debt

• India National Government Debt reached 2,144.6 USD bn in Sep 2024, compared with 2,113.5 USD bn in the previous quarter.
• India National Government Debt data is updated quarterly, available from Dec 1998 to Sep 2024.
• The data reached an all-time high of 2,144.6 USD bn in Sep 2024 and a record low of 232.8 USD bn in Dec 1998.

CEIC converts quarterly Government Debt into USD. The Ministry of Finance provides Government Debt in local currency. The Federal Reserve Board period end market exchange rate is used for currency conversions. Government Debt covers Central Government only.


Related information about India National Government Debt

• In the latest reports, India Consolidated Fiscal Balance recorded a deficit equal to 4.6 % of its Nominal GDP in Sep 2024.
• The country's Government debt accounted for 58.3 % of its Nominal GDP in Sep 2024.
• India Nominal GDP reached 873.7 USD bn in Mar 2023.

India recorded a trade deficit of 26.49 USD Billion in August of 2025. This dataset provides the latest reported value for - India Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The statistic shows the national debt in India from 2020 to 2023 in relation to gross domestic product (GDP), with projections up until 2030. In 2023, the national debt of India amounted to about 81.23 percent of the gross domestic product. India’s economy on the rise India is one of the most populous countries in the world, and although a large share of inhabitants are living below the poverty line – or probably due to this fact –, the country’s economy is growing steadily. India’s GDP growth is expected to remain steady at more than 7 percent for the next few years, which is almost double that of the global GDP, and both GDP and GDP per capita are expected to increase significantly. Almost half of India’s workforce is employed in the agricultural sector, but services and industry share the other half quite equally. India’s GDP is mostly generated by the services sector, which includes transport, retailing, and offering services in the hospitality and tourism industry. India’s trade balance has been in the red for a decade now, but seems to recover slowly. A trade deficit usually means that a country’s import costs are higher than the amount of money generated with exporting goods. India’s imports could not be compensated for by the country’s exports, as imports have been consistently, even if only slightly, higher over the years both in terms of volume and value. Still, all signs point to India’s economy growing and thriving, reducing India’s debt (as seen above) and unemployment rate, enabling the inhabitants to create a better life for themselves.

India State Finances: RE: Gross Fiscal Deficit: Financing: Overall Deficit: Decrease in Cash Balance data was reported at 690,164.000 INR mn in 2024. This records an increase from the previous number of 500,444.000 INR mn for 2023. India State Finances: RE: Gross Fiscal Deficit: Financing: Overall Deficit: Decrease in Cash Balance data is updated yearly, averaging 252,204.000 INR mn from Mar 2005 (Median) to 2024, with 20 observations. The data reached an all-time high of 690,164.000 INR mn in 2024 and a record low of -67,650.000 INR mn in 2005. India State Finances: RE: Gross Fiscal Deficit: Financing: Overall Deficit: Decrease in Cash Balance data remains active status in CEIC and is reported by Reserve Bank of India. The data is categorized under India Premium Database’s Government and Public Finance – Table IN.FE002: State Finances: Financing of Gross Fiscal Deficit.

India recorded a Current Account deficit of 2351 USD Million in the second quarter of 2025. This dataset provides - India Current Account - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Current and historical data on Uttar Pradesh's sector-wise receipts and expenditure, debts and liabilities, and fiscal deficits.

India State Finances: RE: Gross Fiscal Deficit: Financing: Overall Deficit data was reported at 823,776.000 INR mn in 2024. This records a decrease from the previous number of 1,220,255.000 INR mn for 2023. India State Finances: RE: Gross Fiscal Deficit: Financing: Overall Deficit data is updated yearly, averaging 433,050.000 INR mn from Mar 2005 (Median) to 2024, with 20 observations. The data reached an all-time high of 1,255,100.000 INR mn in 2018 and a record low of -67,650.000 INR mn in 2005. India State Finances: RE: Gross Fiscal Deficit: Financing: Overall Deficit data remains active status in CEIC and is reported by Reserve Bank of India. The data is categorized under India Premium Database’s Government and Public Finance – Table IN.FE002: State Finances: Financing of Gross Fiscal Deficit.

In financial year 2023, the revenue deficit across Andhra Pradesh in India was estimated to be approximately *** billion Indian rupees. This was a drop in comparison to the previous year. The state had the highest revenue deficit of ***** billion rupees in the fiscal year 2021.

Current and historical data on Andhra Pradesh's sector-wise receipts and expenditure, debts and liabilities, and fiscal deficits.

The statistic shows the inflation rate in India from 1987 to 2024, with projections up until 2030. The inflation rate is calculated using the price increase of a defined product basket. This product basket contains products and services, on which the average consumer spends money throughout the year. They include expenses for groceries, clothes, rent, power, telecommunications, recreational activities and raw materials (e.g. gas, oil), as well as federal fees and taxes. In 2024, the inflation rate in India was around 4.67 percent compared to the previous year. See figures on India's economic growth for additional information. India's inflation rate and economy Inflation is generally defined as the increase of prices of goods and services over a certain period of time, as opposed to deflation, which describes a decrease of these prices. Inflation is a significant economic indicator for a country. The inflation rate is the rate at which the general rise in the level of prices, goods and services in an economy occurs and how it affects the cost of living of those living in a particular country. It influences the interest rates paid on savings and mortgage rates but also has a bearing on levels of state pensions and benefits received. A 4 percent increase in the rate of inflation in 2011 for example would mean an individual would need to spend 4 percent more on the goods he was purchasing than he would have done in 2010. India’s inflation rate has been on the rise over the last decade. However, it has been decreasing slightly since 2010. India’s economy, however, has been doing quite well, with its GDP increasing steadily for years, and its national debt decreasing. The budget balance in relation to GDP is not looking too good, with the state deficit amounting to more than 9 percent of GDP.