India recorded a Government Budget deficit equal to 3.53 percent of the country’s Gross Domestic Product in 2017. Government Budget in India averaged -5.05 percent of GDP from 1970 until 2017, reaching an all time high of -2.53 percent of GDP in 1973 and a record low of -8.13 percent of GDP in 1986. Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus. This page provides – India Government Budget – actual values, historical data, forecast, chart, statistics, economic calendar and news.