India Budget Deficit
General government net lending/borrowing as % of GDP GGXCNL_NGDP
India's budget deficit was -7.11% in 2025, ranked 164th globally. This represents a 10.0% increase from 2024. Data from IMF WEO, covering 1988–2025.
Overview
India's budget deficit stood at -7.11% in 2025, a rise of +0.79% from 2024. The IMF projects -7.11% by 2025. India ranked 164th globally.
India's budget deficit has exhibited significant fluctuations over the past three and a half decades, with the latest value standing at -7.11 as of 2025, ranking it 164th globally. The country's deficit peaked in 2007 at -4.59, a relatively low point compared to its all-time trough of -12.86 in 2020. Poland, a peer country, displayed a similar deficit of -6.99 in 2025, while the United States had a higher deficit of -7.37. The IMF's World Economic Outlook provides valuable insights into India's fiscal management. Despite the fluctuations, the country's budget deficit has generally trended downwards since the 2020 peak, which was largely influenced by the COVID-19 pandemic. However, with a growing economy and increasing government spending, India's budget deficit is likely to remain a subject of concern, and a sustained fiscal consolidation effort will be crucial to ensure a stable economic trajectory. Sustained fiscal discipline and economic growth will be key to reversing the deficit trend.
Data & projection
| Year | Budget Deficit | YoY change | Rank |
|---|---|---|---|
| 2030* IMF | -6.63% | - | - |
| 2029* IMF | -6.77% | - | - |
| 2028* IMF | -6.94% | - | - |
| 2027* IMF | -7.09% | - | - |
| 2026* IMF | -7.15% | - | - |
| 2025* IMF | -7.11% | - | - |
| 2025 | -7.11% | +0.79% | #164 |
| 2024 | -7.90% | −0.50% | #18 |
| 2023 | -7.40% | +1.57% | #16 |
| 2022 | -8.97% | +0.48% | #15 |
| 2021 | -9.45% | +3.42% | #16 |
| 2020 | -12.86% | −5.17% | #17 |
| 2019 | -7.69% | −1.36% | #13 |
| 2018 | -6.34% | −0.11% | #18 |
| 2017 | -6.23% | +0.89% | #22 |
| 2016 | -7.12% | +0.09% | #27 |
| 2015 | -7.21% | −0.13% | #25 |
| 2014 | -7.07% | −0.07% | #16 |
| 2013 | -7.00% | +0.55% | #19 |
| 2012 | -7.55% | +0.80% | #15 |
| 2011 | -8.35% | +0.45% | #13 |
Detected Pattern
Analysis
India matched the Fiscal Dominance Trap pattern in 2010. Historically, 72% of countries showing this pattern (278 out of 386) saw budget deficit improve within 24 months. View full analysis →
Frequently Asked Questions
India's budget deficit was -7.11% in 2025. Ranked 164th globally. This represents a 10.0% increase from the previous year.
India's budget deficit peaked at -4.59% in 2007.
The lowest budget deficit in India was -12.86% in 2020.
India ranks 164th globally in budget deficit as of 2025.
The World Bank indicator code is GGXCNL_NGDP. Data sourced from IMF WEO.
India's budget deficit is projected to reach -7.11% by 2025 based on IMF projection.
The budget deficit of India in 2025 was -7.11%. This ranks 164th in the world.
Cite this page
@misc{historysaid_india_budget-deficit,
title = {India Budget Deficit},
url = {https://historysaid.com/india/budget-deficit/},
publisher = {HistorySaid},
year = {2026}
}