Fiscal Deficit
Fiscal deficit widens as capex, subsidy spending rise in first five months
According to the latest monthly accounts released by the Controller General of Accounts (CGA) on Wednesday, the fiscal deficit stood at ₹7.10 trillion, or 41.9% of the full-year budget estimate, during April-August of FY27. This deficit was 38.1% of the annual target a year ago.
3 min read30 Sep 2026Hardening yields: the global bond market rout holds out four clear policy lessons for India
Bond markets are signalling discomfort with high levels of sovereign debt. India’s best defence against a new era of costlier credit is its GDP growth. But since economic progress and fiscal credibility are mutually dependent, both must be strengthened.
4 min read9 Sep 2026Boost for Indian economy after 7.8% GDP; Japan agency upgrades sovereign rating from BBB+ to A- | Difference explained
Japan’s JCR upgrades India’s sovereign rating to A- with a stable outlook after strong 7.8% GDP growth. Here’s what the BBB+ to A- upgrade means.
4 min read5 Sep 2026India to start preparations for Budget 2027 from 12 October
The pre-budget meetings will be chaired by Finance Secretary (Expenditure) V. Vualnam, according to a circular released today.
3 min read29 Aug 2026The Iran War may turn out to be a key marker in history of America’s fiscal overstretch
While superior arms can win a conflict, it may not repeal the arithmetic of debt, inflation and rising borrowing costs—even for a country that issues the global reserve currency. The Iran war’s significance may lie in its eventual impact on the economy of an overstretched US.
4 min read10 Aug 2026Fiscal deficit widens to 18.2% of FY27 target by June as spending picks up
The deficit, which nearly doubled from 9.6% at the end of May, reflected higher government spending towards the end of the quarter even as revenue collections remained broadly on track.
3 min read31 Jul 2026States' liabilities rise to ₹90.5 tn in FY25, many breach fiscal gap limit: CAG
As of 31 March 2025, total liabilities of states stood at ₹90.51 trillion, while outstanding public debt reached ₹75.52 trillion. Public debt has more than tripled over the past decade, rising from ₹23.92 trillion in 2015-16, reflecting growing borrowing requirements across states.
5 min read16 Jun 2026Mint Quick Edit | Bite the bullet: India’s fisc can't afford an outsized fertilizer subsidy bill
This year’s war-driven subsidy overshoot could burn a huge hole in the government's budget. While easing or abandoning price controls may seem difficult, India’s policy status quo looks riskier by the day.
1 min read11 Jun 2026Centre’s domestic financing nearly doubles to ₹3.6 trillion in April, easing capital spending pressure
Strong small savings inflows and residual domestic financing provide a cushion for the government's FY27 spending, reducing its reliance on market borrowings.
3 min read2 Jun 2026India's fiscal deficit surges in April as receipts drop, spending jumps
The fiscal deficit in April, reflecting the gap between expenditure and revenue financed by borrowing, reached 21.4% of the ₹16.96 trillion budget target for FY27, according to the latest accounts released by the Controller General of Accounts (CGA) on Monday.
3 min read1 Jun 2026Wait for it…
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