Fiscal Performance Update: Government Receipts and Expenditure For FY 2025-26
The Ministry of Finance (MoF) recently issued a press release on February 27, 2026, regarding the monthly financial accounts of the Government of India up to January 2026. The key points from these reports are summarised below.
Up to January 2026, the Government of India has received a total of Rs. 27,086,540 crore, which is 79.5% of the estimated total receipts for the financial year 2025-26. This includes Rs 20,94,218 crore from tax revenue (Net to Centre), Rs 5,57,307 crore from non-tax revenue, and Rs 57,129 crore from non-debt capital receipts. During this period, the Centre has transferred Rs 11,39,767 crore to State Governments as their share of taxes, which is Rs 65,588 crore more than what was transferred in the same period last year.
On the expenditure side, the Government has incurred a total expenditure of Rs. 36,90,061 crore, which is 74.3% of the budget estimate for 2025-26. Out of this, Rs 28,477.80 crore has been spent on revenue expenditure, including salaries, interest, subsidies, etc. and Rs 8,422.81 crore on capital expenditure. From the total revenue expenditure, Rs. 98,83,020 crore has gone towards interest payments, and Rs. 35,48,610 crore has been spent on major subsidies.
