India is leaving no stone unturned in its quest to become a new powerhouse in the global economy. This is evident from the country’s budget. India’s Finance Minister Nirmala Sitharaman announced a budget of $583.5 billion (53.5 lakh crore rupees). Remarkably, this annual budget exceeds the GDP of 165 countries worldwide. This means that the combined GDP of 165 countries is less than what India spends in a year to run the country. Last year, the country’s budget was below 50 lakh crore rupees. Let us examine the government’s budget figures and identify which major countries have lower GDPs than India’s annual budget.
How much is the country’s annual budget?
The country’s annual budget is 53.5 lakh crore rupees, or $583.5 billion. Last year, the country’s revised yearly budget was less than 50 lakh crore rupees. According to the figures, this is the first time the country’s annual budget has exceeded 50 lakh crore rupees. The budget for the 2025 financial year was 48.21 lakh crore. Before that, the budget for the financial year 2023 was 45 lakh crore rupees. The budget for the 2022 financial year was 39.45 lakh crore. This indicates that the country’s budget has increased substantially each year.
13 Budgets and a Threefold Increase
This was the 13th full budget of the Modi government’s tenure. Since then, budget expenditure has increased by nearly threefold. Modi’s first full budget was presented in July 2014. At that time, the country’s budget was 17.95 lakh crore rupees. The budget for the 2027 financial year is estimated at 53.50 lakh crore. This means that the budget has increased threefold. In percentage terms, a 200 per cent increase has already been observed. Further increases are expected in the coming years.
Some key figures regarding budget expenditure:
- Non-debt receipts and total expenditure are estimated at ₹36.5 lakh crore and ₹53.5 lakh crore, respectively. The central government’s net tax receipts are estimated at ₹28.7 lakh crore.
- Gross market borrowing is estimated at ₹17.2 lakh crore, and net market borrowing from dated securities is estimated at ₹11.7 lakh crore.
- The revised estimate for non-debt receipts is ₹34 lakh crore, of which the central government’s net tax receipts are ₹26.7 lakh crore.
- The revised estimate for total expenditure is ₹49.6 lakh crore, of which capital expenditure is approximately ₹11 lakh crore.
- The fiscal deficit in the financial year 2026-27 is estimated at 4.3 per cent of GDP, compared to 4.4 per cent previously.
- In the 2026-27 budget estimates (BE), the debt-to-GDP ratio is estimated at 55.6 per cent of GDP, while in the 2025-26 revised estimates (RE), it was 56.1 per cent.
Budget larger than the GDP of 165 countries
Notably, the budget for the 2027 financial year exceeds the GDP of 165 countries worldwide. After the world’s 26th largest economy, no country has a GDP as large as India’s annual budget. Notably, Singapore’s GDP, the world’s 27th-largest, is $574.185 billion, whereas India’s budget is more than $583 billion. Similarly, the UAE’s GDP, the world’s 28th-largest, is $569.097 billion.
