The week in charts: high fiscal deficit, industrial production growth, weak monsoon
India's gross fiscal deficit reached ₹1.6 trillion, or 9.6% of the FY27 budget estimate, within the first two months of the fiscal year, significantly up from 0.9% a year earlier. This increase stems from an 18% rise in total expenditure, alongside declines in net tax receipts and excise duty collections. The weak monsoon, with June 2026 recording the fifth-lowest rainfall since 1901, raises concerns about El Niño's impact on agriculture and the economy.