Econvitals IndiaFiscal
Is the Union government on track for its budgeted deficit? By the end of Aug 2026 the fiscal deficit had reached 41.9% of the year's Budget Estimate, against 38.1% at the same point last year. Monthly accounts from the Controller General of Accounts; GST from the GST portal.
Fiscal deficit, year to date, as % of the Budget Estimate
Each financial year starts in April; March is the full year (% of Revised Estimates)
Capital expenditure, year to date, as % of the Budget Estimate
March is the full year (% of Revised Estimates)
Union government accounts, year to date
| ₹ lakh crore, April to the month shown | Mar 2026 | Apr 2026 | May 2026 | Jun 2026 | Jul 2026 | Aug 2026 |
|---|---|---|---|---|---|---|
| Total receipts | 33.86 | 2.13 | 7.19 | 10.49 | 13.07 | 13.68 |
| Revenue receipts | 33.02 | 2.03 | 6.99 | 10.14 | 12.68 | 12.92 |
| Net tax revenue (to the Centre) | 26.23 | 1.78 | 3.48 | 6.37 | 8.45 | 8.38 |
| Total expenditure | 49.05 | 5.75 | 8.81 | 13.57 | 17.62 | 20.78 |
| Revenue expenditure | 38.36 | 3.85 | 6.30 | 10.17 | 13.11 | 15.68 |
| Interest payments | 12.43 | 1.10 | 1.81 | 3.46 | 4.27 | 5.15 |
| Capital expenditure | 10.69 | 1.90 | 2.51 | 3.40 | 4.51 | 5.10 |
| Fiscal deficit | 15.19 | 3.62 | 1.62 | 3.08 | 4.55 | 7.10 |
| Revenue deficit | 5.34 | 1.82 | −0.69 | 0.03 | 0.44 | 2.76 |
| Primary deficit | 2.77 | 2.53 | −0.19 | −0.39 | 0.29 | 1.95 |
Cumulative from April, so values reset each financial year. CGA cautions that the deficit in the monthly accounts during the year is not necessarily an indicator of the deficit for the full year.
GST collections
GST collections
₹ lakh crore per month
GST growth
% change on the same month a year earlier (same-definition comparison)
GST portal statistics workbook; provisional. Gross collections in Aug 2026: ₹2.00 lakh crore. Each year's growth compares like with like (later months exclude compensation cess on both sides). January 2025 is missing because that month's sheet in the source workbook is malformed.
Tax collections by head
Direct taxes, year to date
Corporate tax plus income tax, % change on the same months a year earlier
Corporate and income tax, year to date
% change on the same months a year earlier
| ₹ lakh crore, April to the month shown | Mar 2026 | Apr 2026 | May 2026 | Jun 2026 | Jul 2026 | Aug 2026 |
|---|---|---|---|---|---|---|
| Gross tax revenue | 40.24 | 2.66 | 5.25 | 9.01 | 12.18 | 14.32 |
| Direct taxes | 22.83 | 1.42 | 2.62 | 5.12 | 6.82 | 7.60 |
| Corporate tax | 10.99 | 0.25 | 0.57 | 2.07 | 2.40 | 2.65 |
| Income tax | 11.83 | 1.17 | 2.05 | 3.05 | 4.42 | 4.95 |
| Securities transaction tax | 0.58 | 0.04 | 0.12 | 0.19 | 0.26 | 0.34 |
| Customs | 2.64 | 0.17 | 0.40 | 0.58 | 0.84 | 1.07 |
| Union excise duties | 3.42 | 0.00 | 0.21 | 0.43 | 0.65 | 0.87 |
| % change on the same months a year earlier | Mar 2026 | Apr 2026 | May 2026 | Jun 2026 | Jul 2026 | Aug 2026 |
|---|---|---|---|---|---|---|
| Gross tax revenue | 6.0 | −1.9 | 1.8 | 3.7 | 11.4 | 6.5 |
| Direct taxes | 5.2 | 8.6 | 10.5 | 11.7 | 23.1 | 13.4 |
| Corporate tax | 11.4 | 17.4 | 26.1 | 19.7 | 20.8 | 15.4 |
| Income tax | 0.0 | 6.8 | 6.8 | 6.8 | 24.3 | 12.3 |
| Customs | 13.4 | 25.1 | 37.5 | 36.1 | 38.2 | 28.2 |
CGA monthly trend of tax revenue: gross collections by head, before the states' share is assigned. "Direct taxes" here is a site calculation, corporate tax plus taxes on income other than corporate tax; securities transaction tax is shown separately and has its own head only from FY 2023-24. Year-to-date growth in April and May swings widely because refunds can exceed collections early in the year (corporate tax was negative in April 2015 and April 2016). Excise is left out of the growth table because its April collections are close to zero (₹−39 crore in April 2025), which makes its year-to-date growth meaningless for months. Corporate tax arrives mostly in June, September, December and March (the advance-tax months: in FY 2025-26 these four months brought in about four-fifths of the year's corporate tax), so growth is best compared at those months.
Still to come on this page
Union Budget headline numbers, general government deficit and debt, state finances. Checklist: docs/guidebook/05-pages/fiscal.md.