Fiscal snapshot: Centre’s deficit at 52.6% of FY26 target by October; receipts, state transfers rise – The Times of India

The central government’s fiscal deficit stood at 52.6% of the full-year target at the end of October 2025, data released by the Controller General of Accounts (CGA) on Friday showed. In the same period last year, the deficit was 46.5% of the 2024-25 Budget Estimates (BE).In absolute terms, the fiscal deficit – the gap between the government’s expenditure and revenue — touched Rs 8,25,144 crore in the April–October period of 2025-26. For the full year, the Centre has pegged the deficit at 4.4% of GDP, or Rs 15.69 lakh crore.

According to the CGA, the government received Rs 18 lakh crore up to October, amounting to 51.5% of the BE for 2025-26. This included Rs 12.74 lakh crore of net tax revenue, Rs 4.89 lakh crore of non-tax revenue and Rs 37,095 crore of non-debt capital receipts.Tax devolution to states surged, with Rs 8,34,957 crore transferred between April and October — Rs 1,11,981 crore more than in the corresponding period last year.Total expenditure stood at Rs 26.25 lakh crore, or 51.8% of the annual estimate. Of this, Rs 20 lakh crore was revenue spending and Rs 6.17 lakh crore was capital expenditure.Within revenue expenditure, Rs 6.73 lakh crore went towards interest payments while Rs 2.46 lakh crore was spent on major subsidies, the CGA data showed.