Union Budget 2026-27 · Budget Estimates · Ministry of Finance
India's Union Budget 2026-27 projects a fiscal deficit of ₹16.96 lakh crore — 4.4% of GDP — as the government walks the tightrope between consolidation and growth. Of every rupee the Union government controls, 24 paise is borrowed. The remaining 76 paise comes from taxes, non-tax receipts, and capital receipts. Every number below traces to a line item in an official document.
Deficit figures on this page refer to the Union Government only (the 4.4% of GDP target). India's combined general-government deficit — adding state and local governments — was roughly 7.8% of GDP in 2024; that's the figure to use when comparing against other countries (see Compare).