Authors : Nethra C.; Sahayaraj Antony Michael; Santhanalakshmi V.; Dr. D. P. Sivaskthi Balan

Volume/Issue : Volume 10 - 2025, Issue 10 - October

Google Scholar : https://tinyurl.com/mrta95u3

Scribd : https://tinyurl.com/39jewkk2

DOI : https://doi.org/10.38124/ijisrt/25oct1361

Note : A published paper may take 4-5 working days from the publication date to appear in PlumX Metrics, Semantic Scholar, and ResearchGate.

Note : Google Scholar may take 30 to 40 days to display the article.

Abstract : India’s budget deficit has been a recurring economic challenge over the past few years, reflecting the imbalance between government revenue and expenditure. This research analyzes the primary reasons behind India’s fiscal deficit from 2021 to 2025, focusing on factors such as rising government spending on welfare schemes, subsidies, and infrastructure, alongside limited growth in tax and non-tax revenues. The study also explores India’s key income sources, including direct and indirect taxes, public sector enterprises, and non-debt capital receipts. Furthermore, it evaluates strategies to enhance national income and reduce the deficit through improved tax compliance, promotion of exports, privatization of loss-making enterprises, diversification of income sources, and digitalization of financial systems. By examining data from the Union Budget, Economic Survey, and reports from financial institutions, this research provides insights into sustainable fiscal management and policy measures required for long-term economic stability in India.

Keywords : Economy, India, Policies.

References :

1. Ministry of Finance, Government of India. Union Budget Documents (2021–2025). Available at: https://www.indiabudget.gov.in
2. Reserve Bank of India (RBI). Annual Report and State Finances Report (2021–2025). Available at: https://www.rbi.org.in
3. Press Information Bureau (PIB). Budget Highlights and Economic Survey Summaries. Available at: https://pib.gov.in
4. NITI Aayog. India’s Economic Growth and Fiscal Management Reports. Available at: https://www.niti.gov.in
5. The Economic Survey of India (2021–2025). Ministry of Finance, Government of India. Available at: https://www.indiabudget.gov.in/economicsurvey
6. The Hindu Business Line. “India’s Fiscal Deficit Trends and Policy Measures.” Available at: https://www.thehindubusinessline.com
7. Times of India. “Budget Deficit and Revenue Challenges in India.” Available at: https://timesofindia.indiatimes.com
8. Economic Times. “How to Increase India’s Revenue and Manage Fiscal Deficit.” Available at: https://economictimes.indiatimes.com

9. World Bank. India Development Update: Fiscal Policy and Growth Outlook (2024–2025). Available at: https://www.worldbank.org/en/country/india