India reported a INR 2.1 trillion budget deficit in April 2024, the first month of the 2024/25 fiscal year, compared to INR 2.1 trillion a year earlier.

It represents 12.5% of the government's projection for the current financial year, compared to 7.5% in the same period last year.

Considering the 2023/24 fiscal year that ended in March 2024, the country recorded a fiscal deficit of INR 16.54 trillion or 95.3% of the estimate.

It is equivalent to 5.63% of the GDP, below the full-year target of 5.8%.

Net tax receipts for 2023/24 were higher-than-projected at INR 23.27 trillion, and 100.1% of the full-year target while total expenditure was 99% of the target at INR 44.43 trillion.

The government's capital spending on infrastructure projects was INR 9.49 trillion.

For the current fiscal year, the government has set a fiscal deficit target of 5.1% of the GDP.

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