According to data released by the Controller General of Accounts (CGA), the Centre’s fiscal deficit stood at Rs 9.8 lakh crore at the end of January, which was 63 per cent of the full-year budget target for 2025-26.The deficit level was lower than the 74.5 per cent of the annual target recorded during the same period a year ago, indicating better fiscal position during the current financial year.The government has estimated the fiscal deficit for 2025-26 at 4.4 per cent of GDP, equivalent to Rs 15.58 lakh crore.According to the monthly accounts released by the CGA, the Center received Rs 27.08 lakh crore or 79.5 per cent of the Revised Estimate (RE) for total receipts in 2025-26 till January.The receipts included Rs 20.94 lakh crore net tax revenue to the Centre, Rs 5.57 lakh crore non-tax revenue and Rs 57,129 crore non-debt capital receipts.The data showed that Rs 11.39 lakh crore was transferred to state governments as their share of taxes, which is Rs 65,588 crore more than the amount transferred during the same period last year.The government’s total expenditure during this period was Rs 36.9 lakh crore or 74.3 per cent of the corresponding revised estimate for FY26. Of this, Rs 28.47 lakh crore was revenue expenditure, while Rs 8.42 lakh crore was capital expenditure.Within the revenue expenditure, Rs 9.88 lakh crore was spent on interest payments and Rs 3.54 lakh crore was spent on major subsidies, the CGA data shows.
