New Delhi, Sept. 1 -- India's fiscal deficit stood at Rs.4.55 lakh crore or 26.8% of the full-year budget estimate at the end of July, according to the latest monthly accounts released by the Controller General of Accounts (CGA) on Monday. The deficit was 29.9% of the annual target in the corresponding period of the previous year. The deficit rose to 26.8% of the annual target by July from 18.2% at the end of June, as government expenditure continued to exceed receipts. The Centre has budgeted a fiscal deficit of Rs.16.96 lakh crore, or 4.3% of GDP, for FY27. It is counting on robust tax collections and higher non-tax revenues in the coming months to meet this target. The fiscal deficit is the gap between the government's total expenditure and receipts, excluding borrowings. The latest data shows India's fiscal position remained under control in the opening months of FY27, even as spending-especially capital expenditure-picked up speed. Fiscal health was also bolstered by total receipts tracking ahead of total expenditure relative to their annual targets. The accounts showed that total expenditure reached Rs.17.62 lakh crore by July, equivalent to 32.9% of the full-year budget estimate, while total receipts stood at Rs.13.07 lakh crore, or 35.8% of the annual estimate. The accounts also showed that the government received Rs.13.07 lakh crore as total receipts during April-July, including Rs.8.45 lakh crore in tax revenue (net to Centre), Rs.4.23 lakh crore in non-tax revenue, and Rs.39,136 crore in non-debt capital receipts. In percentage terms, revenue receipts stood at 35.9% of the budget estimate in July, compared with 31.1% in the corresponding period of the previous fiscal year. Net tax revenue stood at 29.5% of the annual budget estimate of Rs.28.67 lakh crore, while non-tax revenue reached 63.5% of the Rs.6.66 lakh crore budgeted for the year. According to the data, the Centre also received Rs.39,136 crore through non-debt capital receipts, comprising Rs.11,555 crore in loan recoveries and Rs.27,581 crore under other receipts. Non-debt capital receipts were 33.1% of the Rs.1.18 lakh crore budget estimate. The government had budgeted Rs.36.52 lakh crore in total receipts for FY27, including revenue receipts and non-debt capital receipts. Capex emerged as one of the key components of spending during the first four months of FY27. The Centre spent Rs.4.51 lakh crore on capital expenditure, against a full-year budget allocation of Rs.12.22 lakh crore. This represents 36.9% of the annual allocation, compared with 30.9% during the corresponding period of the previous year. Loans disbursed during the period stood at Rs.1.26 lakh crore, or 45.3% of the Rs.2.79 lakh crore budget estimate for FY27....