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. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series


Recent data
India - Fiscal balance, percent of GDP - Recent values chart

Historical series
India - Fiscal balance, percent of GDP - historical chart - 1988-2023




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.

Selected articles from our guide:

What factors determine the exchange rates

International lending and sovereign debt

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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
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