For the financial year 2026-27 (FY27), what was the fiscal deficit target set by the Union Budget?
4.3% of GDP
The fiscal deficit is the gap between the government's total expenditure and its total non-borrowed receipts, expressed as a percentage of nominal GDP, and it indicates the extent to which the government must borrow in a given year.
The Union Budget for FY27 set the fiscal deficit target at 4.3% of GDP, continuing the government's medium-term glide path under the FRBM framework to bring the deficit progressively below 4.5% of GDP.
This is lower than the revised estimate for the preceding year and reflects a mix of buoyant tax collections and calibrated capital expenditure.
Hence, the fiscal deficit target for FY27 was 4.3% of GDP.
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