The federal budget: outlays, receipts and interest

The federal budget: outlays, receipts and interest: 5 lines from the US Rates, Growth and Inflation snapshot, FY 1962 – Q3 2026. Latest Interest payments: ₹1.33 lakh cr in Q3 2026 (verified), from Bureau of Economic Analysis via FRED.

2 charts · 5 lines · Quarterly and annual · FY 1962 – Q3 2026 · snapshot us-rates-94b9517e620b8db2 · published 1 Nov 2026

Federal outlays, receipts and net interest as shares of GDP, and interest payments beside national defense spending. The spending comparison is in dollars and is not drawn on the share-of-GDP chart.

Interest payments and defense spending

Lines

₹ crore / lakh crore

Q1 1962 Interest payments: ₹1,452 cr Defense spending: ₹6,916 crQ2 1962 Interest payments: ₹1,497 cr Defense spending: ₹6,892 crQ3 1962 Interest payments: ₹1,532 cr Defense spending: ₹7,045 crQ4 1962 Interest payments: ₹1,562 cr Defense spending: ₹7,028 crQ1 1963 Interest payments: ₹1,580 cr Defense spending: ₹6,939 crQ2 1963 Interest payments: ₹1,606 cr Defense spending: ₹6,890 crQ3 1963 Interest payments: ₹1,640 cr Defense spending: ₹7,085 crQ4 1963 Interest payments: ₹1,675 cr Defense spending: ₹7,088 crQ1 1964 Interest payments: ₹1,709 cr Defense spending: ₹7,038 crQ2 1964 Interest payments: ₹1,733 cr Defense spending: ₹6,938 crQ3 1964 Interest payments: ₹1,767 cr Defense spending: ₹7,015 crQ4 1964 Interest payments: ₹1,787 cr Defense spending: ₹6,900 crQ1 1965 Interest payments: ₹1,816 cr Defense spending: ₹6,803 crQ2 1965 Interest payments: ₹1,848 cr Defense spending: ₹6,816 crQ3 1965 Interest payments: ₹1,867 cr Defense spending: ₹7,116 crQ4 1965 Interest payments: ₹1,906 cr Defense spending: ₹7,498 crQ1 1966 Interest payments: ₹1,944 cr Defense spending: ₹7,748 crQ2 1966 Interest payments: ₹2,001 cr Defense spending: ₹7,914 crQ3 1966 Interest payments: ₹2,049 cr Defense spending: ₹8,561 crQ4 1966 Interest payments: ₹2,112 cr Defense spending: ₹8,766 crQ1 1967 Interest payments: ₹2,155 cr Defense spending: ₹9,223 crQ2 1967 Interest payments: ₹2,162 cr Defense spending: ₹9,350 crQ3 1967 Interest payments: ₹2,191 cr Defense spending: ₹9,666 crQ4 1967 Interest payments: ₹2,264 cr Defense spending: ₹9,775 crQ1 1968 Interest payments: ₹2,350 cr Defense spending: ₹10,046 crQ2 1968 Interest payments: ₹2,437 cr Defense spending: ₹10,152 crQ3 1968 Interest payments: ₹2,497 cr Defense spending: ₹10,147 crQ4 1968 Interest payments: ₹2,536 cr Defense spending: ₹10,198 crQ1 1969 Interest payments: ₹2,566 cr Defense spending: ₹10,126 crQ2 1969 Interest payments: ₹2,666 cr Defense spending: ₹10,086 crQ3 1969 Interest payments: ₹2,782 cr Defense spending: ₹10,345 crQ4 1969 Interest payments: ₹2,971 cr Defense spending: ₹10,270 crQ1 1970 Interest payments: ₹3,152 cr Defense spending: ₹10,284 crQ2 1970 Interest payments: ₹3,288 cr Defense spending: ₹9,960 crQ3 1970 Interest payments: ₹3,427 cr Defense spending: ₹9,991 crQ4 1970 Interest payments: ₹3,464 cr Defense spending: ₹10,049 crQ1 1971 Interest payments: ₹3,474 cr Defense spending: ₹9,948 crQ2 1971 Interest payments: ₹3,476 cr Defense spending: ₹9,784 crQ3 1971 Interest payments: ₹3,541 cr Defense spending: ₹9,743 crQ4 1971 Interest payments: ₹3,603 cr Defense spending: ₹9,723 crQ1 1972 Interest payments: ₹3,653 cr Defense spending: ₹10,136 crQ2 1972 Interest payments: ₹3,718 cr Defense spending: ₹10,331 crQ3 1972 Interest payments: ₹3,789 cr Defense spending: ₹9,773 crQ4 1972 Interest payments: ₹3,892 cr Defense spending: ₹10,046 crQ1 1973 Interest payments: ₹4,094 cr Defense spending: ₹10,344 crQ2 1973 Interest payments: ₹4,264 cr Defense spending: ₹10,336 crQ3 1973 Interest payments: ₹4,420 cr Defense spending: ₹10,050 crQ4 1973 Interest payments: ₹4,538 cr Defense spending: ₹10,326 crQ1 1974 Interest payments: ₹4,618 cr Defense spending: ₹10,619 crQ2 1974 Interest payments: ₹4,738 cr Defense spending: ₹10,883 crQ3 1974 Interest payments: ₹4,886 cr Defense spending: ₹11,032 crQ4 1974 Interest payments: ₹4,952 cr Defense spending: ₹11,424 crQ1 1975 Interest payments: ₹5,029 cr Defense spending: ₹11,507 crQ2 1975 Interest payments: ₹5,147 cr Defense spending: ₹11,425 crQ3 1975 Interest payments: ₹5,304 cr Defense spending: ₹12,000 crQ4 1975 Interest payments: ₹5,507 cr Defense spending: ₹12,259 crQ1 1976 Interest payments: ₹5,687 cr Defense spending: ₹12,292 crQ2 1976 Interest payments: ₹5,809 cr Defense spending: ₹12,343 crQ3 1976 Interest payments: ₹5,944 cr Defense spending: ₹12,516 crQ4 1976 Interest payments: ₹6,118 cr Defense spending: ₹12,830 crQ1 1977 Interest payments: ₹6,204 cr Defense spending: ₹13,159 crQ2 1977 Interest payments: ₹6,378 cr Defense spending: ₹13,413 crQ3 1977 Interest payments: ₹6,578 cr Defense spending: ₹13,535 crQ4 1977 Interest payments: ₹6,944 cr Defense spending: ₹13,657 crQ1 1978 Interest payments: ₹7,396 cr Defense spending: ₹13,873 crQ2 1978 Interest payments: ₹7,734 cr Defense spending: ₹14,417 crQ3 1978 Interest payments: ₹8,094 cr Defense spending: ₹14,731 crQ4 1978 Interest payments: ₹8,420 cr Defense spending: ₹15,052 crQ1 1979 Interest payments: ₹8,756 cr Defense spending: ₹15,374 crQ2 1979 Interest payments: ₹8,991 cr Defense spending: ₹15,862 crQ3 1979 Interest payments: ₹9,228 cr Defense spending: ₹16,269 crQ4 1979 Interest payments: ₹9,607 cr Defense spending: ₹16,731 crQ1 1980 Interest payments: ₹10,225 cr Defense spending: ₹17,518 crQ2 1980 Interest payments: ₹10,726 cr Defense spending: ₹18,196 crQ3 1980 Interest payments: ₹10,807 cr Defense spending: ₹18,379 crQ4 1980 Interest payments: ₹11,253 cr Defense spending: ₹19,269 crQ1 1981 Interest payments: ₹12,603 cr Defense spending: ₹20,016 crQ2 1981 Interest payments: ₹12,954 cr Defense spending: ₹21,024 crQ3 1981 Interest payments: ₹13,574 cr Defense spending: ₹21,616 crQ4 1981 Interest payments: ₹14,240 cr Defense spending: ₹22,693 crQ1 1982 Interest payments: ₹14,680 cr Defense spending: ₹23,259 crQ2 1982 Interest payments: ₹15,091 cr Defense spending: ₹24,224 crQ3 1982 Interest payments: ₹15,593 cr Defense spending: ₹24,919 crQ4 1982 Interest payments: ₹15,708 cr Defense spending: ₹25,760 crQ1 1983 Interest payments: ₹15,889 cr Defense spending: ₹26,154 crQ2 1983 Interest payments: ₹16,314 cr Defense spending: ₹26,857 crQ3 1983 Interest payments: ₹17,005 cr Defense spending: ₹27,454 crQ4 1983 Interest payments: ₹17,581 cr Defense spending: ₹28,357 crQ1 1984 Interest payments: ₹18,280 cr Defense spending: ₹28,786 crQ2 1984 Interest payments: ₹18,841 cr Defense spending: ₹29,393 crQ3 1984 Interest payments: ₹19,879 cr Defense spending: ₹29,834 crQ4 1984 Interest payments: ₹20,531 cr Defense spending: ₹31,494 crQ1 1985 Interest payments: ₹20,826 cr Defense spending: ₹31,391 crQ2 1985 Interest payments: ₹21,314 cr Defense spending: ₹32,370 crQ3 1985 Interest payments: ₹21,452 cr Defense spending: ₹33,765 crQ4 1985 Interest payments: ₹21,904 cr Defense spending: ₹34,274 crQ1 1986 Interest payments: ₹22,257 cr Defense spending: ₹33,912 crQ2 1986 Interest payments: ₹22,428 cr Defense spending: ₹35,078 crQ3 1986 Interest payments: ₹22,471 cr Defense spending: ₹36,425 crQ4 1986 Interest payments: ₹22,526 cr Defense spending: ₹35,529 crQ1 1987 Interest payments: ₹22,699 cr Defense spending: ₹36,148 crQ2 1987 Interest payments: ₹22,914 cr Defense spending: ₹37,100 crQ3 1987 Interest payments: ₹23,315 cr Defense spending: ₹37,778 crQ4 1987 Interest payments: ₹23,998 cr Defense spending: ₹37,928 crQ1 1988 Interest payments: ₹24,412 cr Defense spending: ₹37,844 crQ2 1988 Interest payments: ₹24,461 cr Defense spending: ₹37,982 crQ3 1988 Interest payments: ₹24,886 cr Defense spending: ₹37,902 crQ4 1988 Interest payments: ₹25,407 cr Defense spending: ₹39,113 crQ1 1989 Interest payments: ₹26,324 cr Defense spending: ₹38,208 crQ2 1989 Interest payments: ₹26,926 cr Defense spending: ₹39,148 crQ3 1989 Interest payments: ₹27,139 cr Defense spending: ₹39,724 crQ4 1989 Interest payments: ₹27,476 cr Defense spending: ₹39,411 crQ1 1990 Interest payments: ₹28,032 cr Defense spending: ₹40,189 crQ2 1990 Interest payments: ₹28,502 cr Defense spending: ₹40,569 crQ3 1990 Interest payments: ₹29,321 cr Defense spending: ₹40,223 crQ4 1990 Interest payments: ₹29,764 cr Defense spending: ₹41,021 crQ1 1991 Interest payments: ₹30,088 cr Defense spending: ₹41,792 crQ2 1991 Interest payments: ₹30,412 cr Defense spending: ₹41,871 crQ3 1991 Interest payments: ₹30,438 cr Defense spending: ₹41,610 crQ4 1991 Interest payments: ₹30,804 cr Defense spending: ₹40,344 crQ1 1992 Interest payments: ₹30,644 cr Defense spending: ₹40,247 crQ2 1992 Interest payments: ₹30,791 cr Defense spending: ₹40,167 crQ3 1992 Interest payments: ₹30,768 cr Defense spending: ₹41,235 crQ4 1992 Interest payments: ₹30,552 cr Defense spending: ₹40,937 crQ1 1993 Interest payments: ₹31,076 cr Defense spending: ₹39,318 crQ2 1993 Interest payments: ₹31,185 cr Defense spending: ₹38,916 crQ3 1993 Interest payments: ₹31,250 cr Defense spending: ₹38,960 crQ4 1993 Interest payments: ₹31,064 cr Defense spending: ₹39,464 crQ1 1994 Interest payments: ₹30,924 cr Defense spending: ₹37,642 crQ2 1994 Interest payments: ₹31,662 cr Defense spending: ₹37,993 crQ3 1994 Interest payments: ₹32,399 cr Defense spending: ₹39,428 crQ4 1994 Interest payments: ₹33,351 cr Defense spending: ₹37,783 crQ1 1995 Interest payments: ₹34,436 cr Defense spending: ₹38,010 crQ2 1995 Interest payments: ₹35,204 cr Defense spending: ₹38,188 crQ3 1995 Interest payments: ₹35,563 cr Defense spending: ₹37,824 crQ4 1995 Interest payments: ₹35,728 cr Defense spending: ₹36,841 crQ1 1996 Interest payments: ₹35,912 cr Defense spending: ₹37,855 crQ2 1996 Interest payments: ₹35,722 cr Defense spending: ₹38,081 crQ3 1996 Interest payments: ₹36,117 cr Defense spending: ₹37,613 crQ4 1996 Interest payments: ₹36,244 cr Defense spending: ₹37,356 crQ1 1997 Interest payments: ₹36,218 cr Defense spending: ₹36,279 crQ2 1997 Interest payments: ₹36,477 cr Defense spending: ₹37,580 crQ3 1997 Interest payments: ₹36,708 cr Defense spending: ₹37,234 crQ4 1997 Interest payments: ₹36,837 cr Defense spending: ₹37,703 crQ1 1998 Interest payments: ₹36,834 cr Defense spending: ₹35,663 crQ2 1998 Interest payments: ₹36,765 cr Defense spending: ₹36,932 crQ3 1998 Interest payments: ₹36,620 cr Defense spending: ₹37,663 crQ4 1998 Interest payments: ₹36,009 cr Defense spending: ₹37,243 crQ1 1999 Interest payments: ₹35,260 cr Defense spending: ₹37,223 crQ2 1999 Interest payments: ₹35,214 cr Defense spending: ₹37,490 crQ3 1999 Interest payments: ₹35,107 cr Defense spending: ₹38,657 crQ4 1999 Interest payments: ₹35,293 cr Defense spending: ₹39,933 crQ1 2000 Interest payments: ₹35,482 cr Defense spending: ₹38,303 crQ2 2000 Interest payments: ₹35,411 cr Defense spending: ₹39,959 crQ3 2000 Interest payments: ₹35,288 cr Defense spending: ₹39,102 crQ4 2000 Interest payments: ₹35,311 cr Defense spending: ₹39,664 crQ1 2001 Interest payments: ₹34,548 cr Defense spending: ₹40,446 crQ2 2001 Interest payments: ₹33,478 cr Defense spending: ₹41,002 crQ3 2001 Interest payments: ₹32,683 cr Defense spending: ₹41,542 crQ4 2001 Interest payments: ₹31,782 cr Defense spending: ₹42,275 crQ1 2002 Interest payments: ₹30,493 cr Defense spending: ₹44,091 crQ2 2002 Interest payments: ₹30,196 cr Defense spending: ₹45,248 crQ3 2002 Interest payments: ₹30,019 cr Defense spending: ₹46,019 crQ4 2002 Interest payments: ₹29,801 cr Defense spending: ₹48,216 crQ1 2003 Interest payments: ₹29,079 cr Defense spending: ₹49,498 crQ2 2003 Interest payments: ₹29,032 cr Defense spending: ₹52,193 crQ3 2003 Interest payments: ₹29,166 cr Defense spending: ₹52,401 crQ4 2003 Interest payments: ₹29,411 cr Defense spending: ₹54,397 crQ1 2004 Interest payments: ₹29,788 cr Defense spending: ₹55,615 crQ2 2004 Interest payments: ₹29,966 cr Defense spending: ₹56,284 crQ3 2004 Interest payments: ₹30,816 cr Defense spending: ₹58,070 crQ4 2004 Interest payments: ₹31,839 cr Defense spending: ₹57,983 crQ1 2005 Interest payments: ₹32,941 cr Defense spending: ₹59,842 crQ2 2005 Interest payments: ₹34,358 cr Defense spending: ₹60,598 crQ3 2005 Interest payments: ₹34,923 cr Defense spending: ₹61,639 crQ4 2005 Interest payments: ₹35,528 cr Defense spending: ₹61,696 crQ1 2006 Interest payments: ₹35,821 cr Defense spending: ₹63,572 crQ2 2006 Interest payments: ₹36,742 cr Defense spending: ₹63,996 crQ3 2006 Interest payments: ₹37,630 cr Defense spending: ₹63,238 crQ4 2006 Interest payments: ₹38,693 cr Defense spending: ₹65,521 crQ1 2007 Interest payments: ₹39,601 cr Defense spending: ₹65,461 crQ2 2007 Interest payments: ₹40,791 cr Defense spending: ₹67,408 crQ3 2007 Interest payments: ₹41,416 cr Defense spending: ₹68,442 crQ4 2007 Interest payments: ₹41,383 cr Defense spending: ₹70,395 crQ1 2008 Interest payments: ₹40,347 cr Defense spending: ₹72,121 crQ2 2008 Interest payments: ₹38,835 cr Defense spending: ₹74,225 crQ3 2008 Interest payments: ₹38,215 cr Defense spending: ₹76,626 crQ4 2008 Interest payments: ₹37,961 cr Defense spending: ₹77,162 crQ1 2009 Interest payments: ₹36,187 cr Defense spending: ₹76,543 crQ2 2009 Interest payments: ₹35,213 cr Defense spending: ₹78,291 crQ3 2009 Interest payments: ₹35,032 cr Defense spending: ₹79,280 crQ4 2009 Interest payments: ₹35,381 cr Defense spending: ₹80,912 crQ1 2010 Interest payments: ₹36,026 cr Defense spending: ₹81,751 crQ2 2010 Interest payments: ₹37,693 cr Defense spending: ₹82,805 crQ3 2010 Interest payments: ₹38,925 cr Defense spending: ₹82,890 crQ4 2010 Interest payments: ₹39,951 cr Defense spending: ₹83,743 crQ1 2011 Interest payments: ₹41,081 cr Defense spending: ₹83,159 crQ2 2011 Interest payments: ₹42,499 cr Defense spending: ₹84,303 crQ3 2011 Interest payments: ₹43,263 cr Defense spending: ₹83,498 crQ4 2011 Interest payments: ₹43,335 cr Defense spending: ₹82,632 crQ1 2012 Interest payments: ₹42,834 cr Defense spending: ₹82,408 crQ2 2012 Interest payments: ₹42,435 cr Defense spending: ₹81,601 crQ3 2012 Interest payments: ₹42,097 cr Defense spending: ₹82,021 crQ4 2012 Interest payments: ₹41,683 cr Defense spending: ₹79,640 crQ1 2013 Interest payments: ₹41,105 cr Defense spending: ₹77,468 crQ2 2013 Interest payments: ₹41,251 cr Defense spending: ₹77,058 crQ3 2013 Interest payments: ₹41,674 cr Defense spending: ₹75,766 crQ4 2013 Interest payments: ₹42,500 cr Defense spending: ₹75,435 crQ1 2014 Interest payments: ₹43,195 cr Defense spending: ₹74,499 crQ2 2014 Interest payments: ₹44,003 cr Defense spending: ₹74,242 crQ3 2014 Interest payments: ₹44,211 cr Defense spending: ₹75,504 crQ4 2014 Interest payments: ₹44,228 cr Defense spending: ₹73,377 crQ1 2015 Interest payments: ₹42,869 cr Defense spending: ₹73,020 crQ2 2015 Interest payments: ₹42,588 cr Defense spending: ₹73,355 crQ3 2015 Interest payments: ₹42,788 cr Defense spending: ₹72,673 crQ4 2015 Interest payments: ₹43,468 cr Defense spending: ₹73,101 crQ1 2016 Interest payments: ₹44,623 cr Defense spending: ₹72,655 crQ2 2016 Interest payments: ₹45,329 cr Defense spending: ₹72,317 crQ3 2016 Interest payments: ₹45,751 cr Defense spending: ₹73,310 crQ4 2016 Interest payments: ₹46,018 cr Defense spending: ₹73,492 crQ1 2017 Interest payments: ₹46,067 cr Defense spending: ₹73,524 crQ2 2017 Interest payments: ₹47,121 cr Defense spending: ₹74,750 crQ3 2017 Interest payments: ₹48,146 cr Defense spending: ₹74,723 crQ4 2017 Interest payments: ₹49,344 cr Defense spending: ₹76,320 crQ1 2018 Interest payments: ₹50,762 cr Defense spending: ₹77,314 crQ2 2018 Interest payments: ₹53,178 cr Defense spending: ₹78,576 crQ3 2018 Interest payments: ₹55,189 cr Defense spending: ₹80,246 crQ4 2018 Interest payments: ₹57,123 cr Defense spending: ₹81,890 crQ1 2019 Interest payments: ₹57,971 cr Defense spending: ₹83,883 crQ2 2019 Interest payments: ₹58,641 cr Defense spending: ₹84,028 crQ3 2019 Interest payments: ₹57,826 cr Defense spending: ₹85,503 crQ4 2019 Interest payments: ₹56,424 cr Defense spending: ₹86,389 crQ1 2020 Interest payments: ₹54,412 cr Defense spending: ₹87,203 crQ2 2020 Interest payments: ₹51,474 cr Defense spending: ₹87,263 crQ3 2020 Interest payments: ₹50,801 cr Defense spending: ₹87,991 crQ4 2020 Interest payments: ₹51,671 cr Defense spending: ₹91,489 crQ1 2021 Interest payments: ₹53,236 cr Defense spending: ₹90,508 crQ2 2021 Interest payments: ₹55,951 cr Defense spending: ₹90,923 crQ3 2021 Interest payments: ₹58,669 cr Defense spending: ₹90,750 crQ4 2021 Interest payments: ₹61,083 cr Defense spending: ₹91,197 crQ1 2022 Interest payments: ₹63,522 cr Defense spending: ₹90,394 crQ2 2022 Interest payments: ₹68,305 cr Defense spending: ₹92,994 crQ3 2022 Interest payments: ₹75,083 cr Defense spending: ₹92,827 crQ4 2022 Interest payments: ₹82,271 cr Defense spending: ₹95,311 crQ1 2023 Interest payments: ₹86,185 cr Defense spending: ₹97,422 crQ2 2023 Interest payments: ₹89,444 cr Defense spending: ₹98,887 crQ3 2023 Interest payments: ₹96,548 cr Defense spending: ₹1.02 lakh crQ4 2023 Interest payments: ₹1.03 lakh cr Defense spending: ₹1.03 lakh crQ1 2024 Interest payments: ₹1.06 lakh cr Defense spending: ₹1.04 lakh crQ2 2024 Interest payments: ₹1.10 lakh cr Defense spending: ₹1.06 lakh crQ3 2024 Interest payments: ₹1.15 lakh cr Defense spending: ₹1.09 lakh crQ4 2024 Interest payments: ₹1.17 lakh cr Defense spending: ₹1.11 lakh crQ1 2025 Interest payments: ₹1.17 lakh cr Defense spending: ₹1.10 lakh crQ2 2025 Interest payments: ₹1.20 lakh cr Defense spending: ₹1.12 lakh crQ3 2025 Interest payments: ₹1.24 lakh cr Defense spending: ₹1.14 lakh crQ4 2025 Interest payments: ₹1.27 lakh cr Defense spending: ₹1.14 lakh crQ1 2026 Interest payments: ₹1.25 lakh cr Defense spending: ₹1.16 lakh crQ2 2026 Interest payments: ₹1.28 lakh cr Defense spending: ₹1.19 lakh crQ3 2026 Interest payments: ₹1.33 lakh cr Defense spending: ₹1.23 lakh cr

Outlays, receipts and net interest

Lines

per cent

FY 1962 Outlays: 17.69% Receipts: 16.50% Net interest: 1.14%FY 1963 Outlays: 17.46% Receipts: 16.72% Net interest: 1.21%FY 1964 Outlays: 17.32% Receipts: 16.45% Net interest: 1.20%FY 1965 Outlays: 15.93% Receipts: 15.74% Net interest: 1.16%FY 1966 Outlays: 16.54% Receipts: 16.08% Net interest: 1.15%FY 1967 Outlays: 18.31% Receipts: 17.31% Net interest: 1.19%FY 1968 Outlays: 18.94% Receipts: 16.26% Net interest: 1.18%FY 1969 Outlays: 18.05% Receipts: 18.36% Net interest: 1.25%FY 1970 Outlays: 18.23% Receipts: 17.96% Net interest: 1.34%FY 1971 Outlays: 18.04% Receipts: 16.07% Net interest: 1.27%FY 1972 Outlays: 18.03% Receipts: 16.21% Net interest: 1.21%FY 1973 Outlays: 17.24% Receipts: 16.19% Net interest: 1.22%FY 1974 Outlays: 17.43% Receipts: 17.03% Net interest: 1.39%FY 1975 Outlays: 19.72% Receipts: 16.56% Net interest: 1.38%FY 1976 Outlays: 19.85% Receipts: 15.91% Net interest: 1.43%FY 1977 Outlays: 19.66% Receipts: 17.08% Net interest: 1.44%FY 1978 Outlays: 19.51% Receipts: 16.99% Net interest: 1.51%FY 1979 Outlays: 19.18% Receipts: 17.63% Net interest: 1.62%FY 1980 Outlays: 20.68% Receipts: 18.10% Net interest: 1.84%FY 1981 Outlays: 21.15% Receipts: 18.69% Net interest: 2.14%FY 1982 Outlays: 22.30% Receipts: 18.48% Net interest: 2.54%FY 1983 Outlays: 22.24% Receipts: 16.53% Net interest: 2.47%FY 1984 Outlays: 21.10% Receipts: 16.51% Net interest: 2.75%FY 1985 Outlays: 21.81% Receipts: 16.92% Net interest: 2.98%FY 1986 Outlays: 21.63% Receipts: 16.80% Net interest: 2.97%FY 1987 Outlays: 20.68% Receipts: 17.60% Net interest: 2.85%FY 1988 Outlays: 20.33% Receipts: 17.36% Net interest: 2.90%FY 1989 Outlays: 20.27% Receipts: 17.57% Net interest: 3.00%FY 1990 Outlays: 21.01% Receipts: 17.31% Net interest: 3.09%FY 1991 Outlays: 21.50% Receipts: 17.13% Net interest: 3.16%FY 1992 Outlays: 21.19% Receipts: 16.74% Net interest: 3.06%FY 1993 Outlays: 20.55% Receipts: 16.83% Net interest: 2.90%FY 1994 Outlays: 20.06% Receipts: 17.27% Net interest: 2.78%FY 1995 Outlays: 19.84% Receipts: 17.69% Net interest: 3.04%FY 1996 Outlays: 19.33% Receipts: 18.00% Net interest: 2.99%FY 1997 Outlays: 18.67% Receipts: 18.41% Net interest: 2.84%FY 1998 Outlays: 18.23% Receipts: 19.00% Net interest: 2.66%FY 1999 Outlays: 17.67% Receipts: 18.97% Net interest: 2.39%FY 2000 Outlays: 17.45% Receipts: 19.76% Net interest: 2.17%FY 2001 Outlays: 17.60% Receipts: 18.82% Net interest: 1.95%FY 2002 Outlays: 18.40% Receipts: 16.96% Net interest: 1.56%FY 2003 Outlays: 18.85% Receipts: 15.56% Net interest: 1.34%FY 2004 Outlays: 18.77% Receipts: 15.39% Net interest: 1.31%FY 2005 Outlays: 18.96% Receipts: 16.52% Net interest: 1.41%FY 2006 Outlays: 19.22% Receipts: 17.42% Net interest: 1.64%FY 2007 Outlays: 18.85% Receipts: 17.74% Net interest: 1.64%FY 2008 Outlays: 20.19% Receipts: 17.09% Net interest: 1.71%FY 2009 Outlays: 24.30% Receipts: 14.54% Net interest: 1.29%FY 2010 Outlays: 22.97% Receipts: 14.37% Net interest: 1.30%FY 2011 Outlays: 23.10% Receipts: 14.77% Net interest: 1.47%FY 2012 Outlays: 21.70% Receipts: 15.07% Net interest: 1.36%FY 2013 Outlays: 20.47% Receipts: 16.44% Net interest: 1.31%FY 2014 Outlays: 19.91% Receipts: 17.16% Net interest: 1.30%FY 2015 Outlays: 20.18% Receipts: 17.76% Net interest: 1.22%FY 2016 Outlays: 20.49% Receipts: 17.38% Net interest: 1.28%FY 2017 Outlays: 20.30% Receipts: 16.91% Net interest: 1.34%FY 2018 Outlays: 19.89% Receipts: 16.12% Net interest: 1.57%FY 2019 Outlays: 20.65% Receipts: 16.08% Net interest: 1.74%FY 2020 Outlays: 30.49% Receipts: 16.01% Net interest: 1.62%FY 2021 Outlays: 28.75% Receipts: 17.06% Net interest: 1.49%FY 2022 Outlays: 24.07% Receipts: 18.80% Net interest: 1.83%FY 2023 Outlays: 22.04% Receipts: 15.97% Net interest: 2.37%FY 2024 Outlays: 22.99% Receipts: 16.79% Net interest: 3.00%FY 2025 Outlays: 22.79% Receipts: 17.02% Net interest: 3.15%

Research that uses this series

  • US inflation driversPolicy stance: the real policy rate, Taylor-rule benchmarks, Treasury yields, breakeven inflation and the term premium from its own approved snapshot.

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