The Finance Minister has announced India's revised total expenditure for the financial year 2026 (FY26) at ₹49.6 trillion during the Union Budget 2026 presentation. This fiscal allocation represents the government's comprehensive spending framework for the upcoming financial year.

Budget Expenditure Overview

The announced expenditure figure of ₹49.6 trillion reflects the government's revised estimates for total spending across various sectors and initiatives during FY26. This substantial allocation demonstrates the scale of India's fiscal operations and the government's commitment to maintaining robust public expenditure.

Fiscal Planning Framework

The Union Budget 2026 presentation marks a significant milestone in India's fiscal planning process. The revised expenditure figure provides clarity on the government's spending priorities and resource allocation strategy for the upcoming financial year. This comprehensive budget framework will guide various governmental departments and ministries in their operational and developmental activities throughout FY26.

The Finance Minister has announced India's fiscal deficit target of 4.3% of GDP for FY27 during the Union Budget 2026-27 presentation. The budget highlights fiscal discipline with a credible debt path designed to ensure macroeconomic stability, outlining ambitious debt management goals with the debt-to-GDP ratio projected at 55.6% and a target of approximately 50% by FY31.

Key Fiscal Targets and Discipline Framework

The government has established comprehensive fiscal targets as part of its budgetary framework, emphasizing fiscal discipline and macro stability:

Government's Fiscal Consolidation Strategy

The 4.3% fiscal deficit target for FY27 reflects the government's commitment to maintaining fiscal discipline while supporting economic growth. Union Budget 2026-27 highlights this fiscal discipline approach with a credible debt path that ensures macroeconomic stability across the medium term.

The announcement of a debt-to-GDP ratio projection of 55.6% provides additional clarity on the government's debt management approach. The ambitious target of reducing the debt-to-GDP ratio to approximately 50% by FY31 demonstrates the government's long-term fiscal consolidation roadmap, forming part of the credible debt path outlined in the budget.

Macro Stability and Fiscal Policy Framework

These fiscal targets serve as key indicators of the government's approach to balancing expenditure requirements with revenue generation capabilities while ensuring macro stability. The comprehensive framework outlined in Union Budget 2026-27 provides guidance to financial markets and policy planners regarding India's fiscal trajectory.

The combination of fiscal deficit control and debt reduction targets reflects a balanced approach to maintaining macroeconomic stability while ensuring adequate fiscal space for future policy interventions. This credible debt path reinforces the government's commitment to fiscal discipline as highlighted in the budget presentation.