India reported a Government Budget deficit equal to 4.60 percent of the country's Gross Domestic Product in 2011. Historically, from 1990 until 2011, India Government Budget averaged -3.74 Percent of GDP reaching an all time high of -2.04 Percent of GDP in December of 1996 and a record low of -7.80 Percent of GDP in December of 2008. Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus. This page includes a chart with historical data for India Government Budget.