Fiscal deficit widens to 9.6% of FY27 target on higher spending

India's fiscal deficit surged to 9.6% of the annual target in the first two months of the financial year, a significant jump from last year's 0.8%. This was largely due to increased spending in April, though May saw a surplus of ₹2 lakh crore, aided by a record dividend from the central bank. Despite higher subsidy and capital expenditure, analysts believe the government can still meet its FY27 deficit target.

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