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FY27 Budget: Important Numbers to Keep an Eye On

Here are some key figures to watch in the upcoming Union Budget:

Fiscal Deficit: For the current financial year (April 2025 to March 2026 or FY26), the fiscal deficit — the gap between government spending and income — is projected at 4.4% of GDP.

Capital Expenditure: The government has budgeted capital spending at Rs 11.2 lakh crore for this year. A continued strong push towards capital expenditure is expected in the next Budget as well.

Debt Roadmap: In her 2024–25 Budget speech, the Finance Minister had announced that from 2026–27 onwards, fiscal policy would aim to keep the fiscal deficit at levels that put central government debt on a downward trajectory as a share of GDP.

Tax Revenue: The 2025–26 Budget estimated gross tax collections at Rs 42.70 lakh crore, reflecting an 11% increase compared to FY25.

Nominal GDP: Nominal GDP growth for FY26 — which includes real growth and inflation — was estimated at 10.1%, while the National Statistical Office (NSO) projected real GDP growth at 7.4%.