Small savings schemes net collections poised to surpass FY27 budget target of Rs 3.59 lakh crore

Key facts

• Net collections under small savings schemes are expected to exceed the Budget target of Rs 3.59 lakh crore for FY 2026-27, with April-July 2026 inflows rising 56% year-on-year.
• National Small Savings Fund receipts stood at Rs 1.54 lakh crore during April-July 2026 compared with Rs 98,259 crore in the corresponding period of the previous year.
• The four-month inflow represents about 43% of the full-year FY27 target of Rs 3.59 lakh crore.
• The Centre has cut gross market borrowing for FY27 to Rs 15.99 lakh crore from the previously budgeted Rs 17.2 lakh crore.
• The government has budgeted Rs 3.87 lakh crore of net financing through small savings for FY27, while net NSSF financing reached Rs 1.16 lakh crore in April-July 2026.
• For FY 2025-26, the government initially budgeted Rs 3.06 lakh crore of net small savings collections, revised it to Rs 3.42 lakh crore, and actual collections exceeded the revised estimate by over Rs 1 lakh crore.
• Current small savings interest rates range from 6.9% on one-year deposits to 8.2% on the Senior Citizens' Savings Scheme and Sukanya Samriddhi Yojana, with Public Provident Fund at 7.1% and National Savings Certificate at 7.7%.