India's Fiscal Deficit Hits 62% of FY26 Target by November

• India's fiscal deficit reached 9.8 trillion rupees ($109.1 billion) from April to November 2025.
• This represents 62.3% of the government's full-year FY26 target of 15.7 trillion rupees.
• Net tax receipts declined to 13.9 trillion rupees, while non-tax revenue rose to 5.2 trillion rupees.
• Total government expenditure increased to 29.3 trillion rupees, driven by a jump in capital expenditure to 6.6 trillion rupees.
• Analysts expect India to meet its FY26 target, but caution is advised due to global uncertainties and spending pressures.

Why It Matters: India's fiscal deficit reached 62.3% of its FY26 target by November, driven by increased capital spending.