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India Fiscal & Growth Projections
Comparison of projected fiscal deficit and GDP growth for 2025 and 2026.
Primary Sources
India's fiscal roadmap: strong growth and stability despite tax cuts ...
India’s Union Budget for 2025 signals steady fiscal consolidation and reinforces a positive outlook for the country’s sovereign credit ratings, according to a recent report by S&P Global Ratings. The government has projected a fiscal deficit of 4.8% of GDP for the year ending March 31, 2025, slightly lower than the earlier estimate of 4.9% presented in the Union Budget on February 1. Looking ahead to fiscal 2026, India has set an even more ambitious target, aiming for a fiscal deficit of 4.4%. This aligns with the government’s commitment to maintaining financial discipline while pursuing sustainable growth. Despite adjustments to income tax thresholds and a gradual return to normal economic conditions, India is on track to meet its fiscal targets, as per S&P Global’s analysis. The government’s robust financial position is backed by strong dividends from the Reserve Bank of India and efficient management of capital expenditures. The report also notes that India’s fiscal discipline is expected to improve over time, with state government deficits gradually reducing in the years to come. The Union Budget for fiscal 2026 is designed to stimulate domestic demand and foster economic growth. Tax reductions for households are expected to increase consumer spending power, while the government continues to focus on investment-led expansion and agricultural reforms. This proactive approach aims to strengthen India’s economic resilience and accelerate long-term growth. S&P Global projects that India’s real GDP will grow by 6.7% in fiscal 2025 and 6.8% in fiscal 2026. These growth rates position India ahead of many of its global peers, with continued revenue growth despite the recent tax adjustments. Capital investment remains a key priority, with the government allocating 3.1% of GDP to infrastructure and development projects, reinforcing its commitment to strengthening the nation’s economic foundation. As supply chain conditions improve and the general elections conclude, the execution of infrastructure projects is expected to become more efficient, further supporting India’s economic growth. Looking beyond fiscal 2026, the government has announced that it will transition its fiscal performance framework from deficit targets to the debt-to-GDP ratio starting in fiscal 2027. This shift aims to further enhance India’s financial stability and long-term resilience. – IANS
Fiscal Sustainability Program Plan Completed, a Milestone Achievement ...
The program stated that the timely completion of the plan marks one of the most prominent milestones under the vision. Launched in 2016, the Fiscal Sustainability Program (formerly Fiscal Balance Program), encompasses a series of financial reform measures aimed at ensuring long-term financial and economic sustainability.
Path to Fiscal Sustainability - SOU Office of the President
The study will examine all of Oregon's seven public universities and 17 community colleges to identify potential long-term fiscal sustainability options for the state.
Laos needs a fiscal reset that protects social spending
Laos has made progress in bringing inflation under control, but high public debt, a narrow tax base and persistent revenue exemptions continue to constrain fiscal space, threatening investment in health, education and social protection. Without structural reforms that broaden the tax base and explicitly protect social spending, macroeconomic stabilisation will remain fragile and cyclical ...
