Mid-Year Budget Insight (April- August 2026)
This brief examines the Union government’s fiscal position in the first five months of FY 2026-27, a timely question since pre-budget meetings for 2027-28, running from 12 October to mid-November, will also set revised estimates for the current year based on spending up to 30 September. It finds that expenditure is outpacing receipts, capital expenditure is running ahead of last year’s pace, several social sector departments are underspending, and that tax revenue growth remains modest
