Vol. 02 · Union Budget 2026-27 · thepublicrupee.com · Radical Transparency Edition · 17 April 2026

The Public Rupee

A sovereign ledger for a republic of 1.4 billion — every rupee collected, every rupee spent, traced to the document.

Total Expenditure BE 2026-27

₹53.47L Cr

Fiscal Deficit

₹16.96L Cr

4.4% of GDP

RECEIPTS ₹36.52L CR ▲ 7.2%EXPENDITURE ₹53.47L CR ▲ 7.7%FISCAL DEFICIT ₹16.96L CR · 4.4% GDPSTATES SHARE ₹26.21L CR · 41% DEVOLUTIONINTEREST PAYMENTS ₹13.35L CR · LARGEST LINE ITEMGROSS BORROWING ₹15.68L CRRBI SURPLUS ₹2.69L CR TRANSFERREDCAPEX ₹11.21L CR ▲ 10.1%DEFENCE ₹6.97L CRINCOME TAX ₹11.23L CR ▲ 14.4%CORPORATION TAX ₹9.63L CR ▲ 10.8%GST ₹10.75L CR ▲ 11.0%SUBSIDIES ₹5.06L CRPM-KISAN ₹68,000 CR · 9.3 CR FARMERSRECEIPTS ₹36.52L CR ▲ 7.2%EXPENDITURE ₹53.47L CR ▲ 7.7%FISCAL DEFICIT ₹16.96L CR · 4.4% GDPSTATES SHARE ₹26.21L CR · 41% DEVOLUTIONINTEREST PAYMENTS ₹13.35L CR · LARGEST LINE ITEMGROSS BORROWING ₹15.68L CRRBI SURPLUS ₹2.69L CR TRANSFERREDCAPEX ₹11.21L CR ▲ 10.1%DEFENCE ₹6.97L CRINCOME TAX ₹11.23L CR ▲ 14.4%CORPORATION TAX ₹9.63L CR ▲ 10.8%GST ₹10.75L CR ▲ 11.0%SUBSIDIES ₹5.06L CRPM-KISAN ₹68,000 CR · 9.3 CR FARMERS

Scheme Tracker · Promised vs Spent

Union Budget 2026-27 · Demands for Grants · PFMS

Budget Estimates vs Revised Estimates for FY 2025-26 — where money was allocated and where it actually went

Every budget speech contains ambitious announcements. The reckoning comes at the Revised Estimate stage — when the Ministry of Finance compares what was allocated (BE) to what was actually released (RE). Utilisation = RE ÷ BE × 100. Anything below 60% signals a critically underspent scheme — money announced, but unspent, returned to the Consolidated Fund.

SchemeMinistryBE 2025-26RE 2025-26UtilisationStatusBE 2026-27

MGNREGA (now VB-G RAM G)

Demand-driven wage guarantee. Has historically run at full u

Rural Development₹86.0K Cr₹86.0K Cr
100%
Fully utilised₹1.26L Cr

PM-KISAN

Direct benefit transfer of ₹6,000/yr to farmers. High execut

Agriculture & Farmers Welfare₹63.5K Cr₹63.5K Cr
100%
Fully utilised₹68.0K Cr

PM Garib Kalyan Anna Yojana

Free foodgrains under NFSA. Runs through PDS network.

Consumer Affairs & Food₹2.05L Cr₹2.05L Cr
100%
Fully utilised₹2.18L Cr

Ayushman Bharat (PM-JAY)

Health insurance for 500M+ poor. Implementation varies sharp

Health & Family Welfare₹7.5K Cr₹4.4K Cr
58%
Partial₹9.4K Cr

Jal Jeevan Mission

Rural tap water. 2024-25 actual spend was 68% less than budg

Jal Shakti₹67.0K Cr₹17.0K Cr
25%
Critically underspent₹67.7K Cr

Swachh Bharat Mission (Grameen)

Rural sanitation. Actual spend consistently less than alloca

Jal Shakti₹7.2K Cr₹3.6K Cr
50%
Partial₹7.2K Cr

Swachh Bharat Mission (Urban)

Urban sanitation. Allocation halved from 2023-24 peak.

Housing & Urban Affairs₹5.0K Cr₹2.0K Cr
40%
Critically underspent₹2.6K Cr

PMAY - Urban 2.0

Urban affordable housing. Chronic underspend — only 8.6% use

Housing & Urban Affairs₹19.8K Cr₹1.7K Cr
9%
Critically underspent₹23.3K Cr

PMAY - Gramin

Rural housing. Works in fits and starts — state-level bottle

Rural Development₹54.5K Cr₹35.0K Cr
64%
Partial₹54.8K Cr

PM Gram Sadak Yojana (PMGSY)

Rural roads. Allocation frozen at ₹19,000 cr for 5 straight

Rural Development₹19.0K Cr₹11.2K Cr
59%
Partial₹19.0K Cr

Samagra Shiksha

Integrated school education scheme for Classes 1-12.

Education₹41.3K Cr₹37.0K Cr
90%
Fully utilised₹44.0K Cr

PM POSHAN (Mid-Day Meal)

Cooked meals for 11.8 cr schoolchildren.

Education₹12.5K Cr₹12.5K Cr
100%
Fully utilised₹12.5K Cr

National Health Mission

Backbone of public health. Rural health centres, NRHM.

Health & Family Welfare₹36.0K Cr₹32.5K Cr
90%
Fully utilised₹37.2K Cr

Saksham Anganwadi & Poshan 2.0

Nutrition + early childhood care via 14 lakh anganwadi centr

Women & Child Development₹21.2K Cr₹19.9K Cr
94%
Fully utilised₹22.0K Cr

Urban Challenge Fund

New fund for 'cities as growth hubs'. Only 10% utilised in d

Housing & Urban Affairs₹10.0K Cr₹1.0K Cr
10%
Critically underspent₹10.0K Cr

PM Internship Scheme

₹5,000/month to youth in top-500 companies. Nearly zero take

Corporate Affairs₹2.0K Cr₹0.1K Cr
5%
Critically underspent₹10.8K Cr

PM Vishwakarma

Credit + skilling for traditional artisans.

MSME₹4.8K Cr₹1.5K Cr
31%
Critically underspent₹5.0K Cr

PM SVANidhi (street vendors)

Small working capital loans for street vendors. Runs via ban

Housing & Urban Affairs₹0.5K Cr₹0.5K Cr
98%
Fully utilised₹0.5K Cr

Namami Gange (Ganga cleanup)

River rejuvenation. Phase II extended to 2026.

Jal Shakti₹3.4K Cr₹3.0K Cr
88%
Fully utilised₹3.4K Cr

PM Kaushal Vikas Yojana

Skill India flagship. Placement outcomes remain contested.

Skill Development₹2.7K Cr₹2.0K Cr
74%
Partial₹2.9K Cr

Source: Demands for Grants 2026-27, PFMS utilisation reports · Ministry of Finance · Status: good ≥ 90%, ok 60–90%, bad < 60%