India Fiscal Deficit Hits 18.2% of FY27 Target in Q1

India’s government keeps track of how much money it spends and how much it earns.

In the first three months of the 2026‑27 fiscal year, it spent more than it earned by about 3,07,833 crore rupees.

That gap is called the fiscal deficit.

It is 18.2% of the total amount the government planned to spend for the whole year.

The government had aimed for a smaller gap of 4.3% of the country’s total economic output.

The money the government collected from taxes was 6.36 lakh crore rupees, which is about 22% of what it expected to collect.

The total spending was 13.57 lakh crore rupees, about 25% of what it expected to spend.

In the same period last year, the gap was smaller, at 2.81 lakh crore rupees, or 17.9% of the expected spending.