New Delhi, Dec. 23 -- : The fiscal position of both the Centre and the States remained resilient in the first half of 2025-26, with governments containing revenue expenditure while sustaining capital spending, according to a half-yearly review published in the Reserve Bank of India (RBI) Bulletin for December, 2025.
The review notes that the Centre collected nearly half of its budgeted receipts during April-September 2025, while keeping total expenditure below 50 per cent of the annual budget estimates.
This balance, supported by strong non-tax revenues and non-debt capital receipts, helped offset a moderation in tax collections.
The union Budget 2025-26 reaffirmed the government's commitment to fiscal consolidation, with capital expendi...