Why save when you can spend?

In a stunning display of financial acrobatics, India has managed to hit an impressive 8.1% of its fiscal deficit target for FY25 in just the first quarter. Who knew that the art of overspending could be so expertly executed? It seems the government is on a mission to redefine the concept of budgeting, proving that a little creativity can go a long way—right into the red.

The Union government’s fiscal deficit decided to take a leisurely stroll and expanded to 8.1% of the budgetary target for the financial year ending March 2025. In simpler terms, the fiscal deficit is now Rs 1.36 lakh crore of the total limit set at Rs 16.85 lakh crore, as per provisional data released on Friday by the Controller General of Accounts.

On the other hand, net tax revenue collection decided to show up fashionably late at 21.1% of the target, amounting to Rs 5.5 lakh crore in the April-June period, all while income tax collections decided to join the party and rise to the occasion.

As the fiscal year kicks off, India is already sprinting towards its deficit target with the enthusiasm of a child at a candy store. With 8.1% of the FY25 goal already racked up, one can only wonder if the finance ministers are secretly competing for a gold medal in deficit management. Perhaps they should consider a new slogan: “Why save when you can spend?”