India’s Fiscal Deficit Widens: CGA Report

India’s fiscal deficit, the difference between government revenue and expenditure, has widened significantly in the first quarter of the fiscal year (April-July 2024-25). According to a report released by the Comptroller and Auditor General (CGA), the deficit reached ₹2.76 trillion (US$33 billion), representing 17.2% of the full-year target. This figure surpasses the budget estimate of ₹33.9% for the same period. The government’s total expenditure during this period was ₹13 trillion (US$156 billion), while net tax revenue collection reached ₹7.15 trillion (US$86 billion). The government’s fiscal deficit target for the entire fiscal year 2024-25 is set at 4.9% of GDP, equivalent to ₹16.13 trillion (US$194 billion).