India's FY25 fiscal deficit was contained at 4.7% of GDP, below budget estimates, through spending control. FY26 projects continued consolidation with revenue expenditure moderation & rising tax revenue, despite increased interest payments and food subsidies.

• FY25 deficit at 4.7% of GDP, undershooting estimates.
• Tax revenue is projected to peak at 12.0% of GDP in FY26.
• Capital expenditure budgeted to grow by 10.1% in FY26.