India's Fiscal Deficit Hits 42.1% of FY27 Target After Six Months

India’s central government fiscal deficit rose to about ₹7.15 trillion in April–September 2026, up from ₹5.7 trillion a year earlier, reaching 42.1% of the full-year target versus 36.5% at the same point last year. The government’s FY27 target is ₹16.96 trillion, or 4.3% of GDP. Total expenditure increased to ₹25.5 trillion from ₹23 trillion, including higher capital spending of ₹6.5 trillion, while net tax receipts rose to ₹12.8 trillion from ₹12.3 trillion and non-tax revenue edged up to ₹4.8 trillion from ₹4.7 trillion.