India: Fiscal balance, percent of GDP
* indicates monthly or quarterly data series
| India |
Fiscal balance, percent of GDP |
|---|---|
| Latest value | -8.32 |
| Year | 2023 |
| Measure | percent |
| Data availability | 1988 - 2023 |
| Average | -8.25 |
| Min - Max | -12.86 - -4.59 |
| Source | International Monetary Fund (IMF) |
The latest value from 2023 is -8.32 percent, an increase from -9.2 percent in 2022. In comparison, the world average is -2.82 percent, based on data from 143 countries. Historically, the average for India from 1988 to 2023 is -8.25 percent. The minimum value, -12.86 percent, was reached in 2020 while the maximum of -4.59 percent was recorded in 2007.
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* indicates monthly or quarterly data series
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Definition: The fiscal (budget) balance is the difference between government revenue and government expenditure. We express the value as percent of GDP to relate it to the size of the economy.
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Government spending, percent of GDP | 10.50 | 2023 | percent |
| Government spending, in dollars | 370.69 | 2023 | billion U.S. dollars |
| Fiscal balance, percent of GDP | -8.32 | 2023 | percent |
| Government debt | 83.02 | 2023 | percent |
| Government expenditure | 7,364.38 | Q4/2024 | billion |
| Long-term interest rate | 6.73 | 2/2025 | percent |
| Tax revenue | 12.02 | 2018 | percent |
| Commercial tax rate | 49.70 | 2019 | percent |
| Tax preparation time | 252 | 2019 | hours |
| Number of taxes | 11 | 2019 | taxes |
| Taxes on goods and services | 40.87 | 2018 | percent |
| Taxes on international trade | 4.51 | 2018 | percent |
| Income and profits taxes | 45.65 | 2018 | percent |
| Foreign aid | 2,831.24 | 2022 | million U.S. dollars |