India's fiscal deficit has nearly doubled to ₹3.08 lakh crore in June, compared to ₹1.62 lakh crore in May, according to the Controller General of Accounts data. The deficit now accounts for over 18% of the annual target for fiscal 2027. For FY27, the government has pegged the fiscal deficit at 4.3% of GDP, or ₹16.96 lakh crore.