India’s Fiscal Deficit Hits ₹8.47 Lakh Cr Through November, 52.5% of Annual Target

India’s fiscal deficit for the first eight months of this fiscal year through November stood at 8.47 lakh crore rupees or 52.5 percent of annual estimates, data from the Ministry of Finance showed yesterday.

Total receipts stood at 18.94 lakh crore rupees, while overall expenditure in April to November was at 27.41 lakh crore rupees. These figures were 59.1 percent and 56.9 percent of this fiscal year’s budget



target. Tax revenue was 14.43 lakh crore rupees, and non-tax revenue was 4.27 lakh crore rupees.

The central government’s fiscal deficit target is 4.9 percent of the gross domestic product for 2024-25, as announced by Finance Minister Nirmala Sitharaman in the Union Budget 2024-25 against 5.6 percent in 2023-24, which was lower than the revised estimates of 5.8 percent.