new delhi, July 1 -- India's fiscal deficit reached 9.6% of the full-year target at the end of May. The fiscal deficit, reflecting the gap between expenditure and revenue financed by borrowing, had touched 21.4% of the Rs.16.96 lakh crore budget estimate (BE) for FY27 in April. The Centre's fiscal deficit narrowed to 9.6% of BE of 2026-27 or Rs.1.62 lakh crore, according to the latest accounts released by the Controller General of Accounts (CGA) on Tuesday. The government has budgeted a fiscal deficit of 4.3% of gross domestic product, or about Rs.16.96 lakh crore, for FY27 and is expected to rely on stronger tax collections and non-tax receipts in the coming months to keep the deficit within the target. May's fiscal position also reflects ...