New Delhi, February 27 The Centre's fiscal deficit at the end of January stood at ₹9.8 lakh crore, or 63 per cent of the annual budget target for 2025-26, compared to 74.5 per cent in the year-ago period, according to government data released on Friday.
The Centre estimates the fiscal deficit (the gap between expenditure and revenue) during 2025-26 at 4.4 per cent of GDP, or ₹15.58 lakh crore.
According to monthly accounts released by the Controller General of Accounts (CGA), the Centre received ₹27.08 lakh crore (79.5 per cent of corresponding Revised Estimates 2025-26 of total receipts) up to January 2026.
This comprised ₹20.94 lakh crore of tax revenue (net to the Centre), ₹5.57 lakh crore of non-tax revenue, and ₹57,129 crore of non-debt capital receipts.
The CGA data showed that ₹11.39 lakh crore has been transferred to state governments as devolution of tax shares by the Government of India, which is ₹65,588 crore higher than the previous year.
Furthermore, the total expenditure incurred by the Government of India is ₹36.9 lakh crore (74.3 per cent of corresponding Revised Estimate 2025-26), of which ₹28.47 lakh crore was on revenue and ₹8.42 lakh crore on capital.
Out of the total revenue expenditure, ₹9.88 lakh crore was on interest payments and ₹3.54 lakh crore on major subsidies.