Government of India (GoI) Fiscal Deficit Reaches ₹1.62 Lakh Crore in April-May FY27

Exam-focused facts from the 2 July 2026 current affairs briefing.

Key facts

India's fiscal deficit for the first two months of Financial Year 2026-27 (FY27) stood at ₹1.62 lakh crore, accounting for 9.6% of the full-year budget estimate.
Total receipts for the April-May period were recorded at ₹7.19 lakh crore, while the overall expenditure reached ₹8.81 lakh crore.
Finance Minister Nirmala Sitharaman has pegged the fiscal deficit target for FY27 at 4.4% of the Gross Domestic Product (GDP).
The central government's Capital Expenditure (Capex) for the first two months reached ₹2.51 lakh crore, representing 20.5% of the annual ₹12.22 lakh crore outlay.
Revenue deficit recorded a surplus of ₹68,985 crore, while non-tax revenue was bolstered by a record dividend transfer from the Reserve Bank of India (RBI).