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Fiscal deficit at 38% of FY26 target in Apr-Aug
Financial Express Kochi
|October 01, 2025
Net tax revenues shrink 7.3%; capex at 38.5% of BE
THE CENTRE'S FISCAL deficit widened to $5.98 lakh crore or 38.1% of the annual target in the first five months of 2025-26, compared with 27% of the relevant target in the year-ago period, as net tax revenues continued to contract and capex accelerated.
In April-August 2025, net tax revenues contracted by 7.3% to %8.1 lakh crore as both direct and indirect taxes underperformed.
Non-tax revenues surged by 31.7% on-year following the receipt of the higher-than-budgeted dividend from the Reserve Bank of India.
Analysts said there is still no threat to the Centre’s plan to bring it down to 4.4% of GDP in FY26 due to robust non-tax receipts, which will likely bridge any shortfall in tax revenues, due to income tax cuts and Goods and Services Tax (GST) rate reductions.
This story is from the October 01, 2025 edition of Financial Express Kochi.
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