India's April-June FY25 Fiscal Deficit At Rs 50,615 Crore, 3% of Budget Estimate

India’s fiscal deficit during April-June 2024 stood at Rs 50,615 crore, or 3 per cent of the full budget target for FY25, according to the latest data released on June 28. The fiscal deficit is the gap between expenditure and revenue

According to the data released by the Controller General of Accounts, net tax revenues in April-May were Rs 3.19 lakh, or 12 per cent of the budget target, compared with Rs 2.78 lakh crore in the corresponding period last year, according to the data.

The central government had set a fiscal deficit target of 5.1% of the GDP in the interim budget, and the government now intends to bring the fiscal deficit down to 4.5% of the GDP by FY26.