Anatomy of a Budget

Sources & method

How the ledger was drawn up

  • General government, consolidated. Central, state and local government and social-security funds together, with transfers between them removed so nothing is counted twice. India's year is FY2025/26.
  • Spending by function (UN COFOG), revenue by type (IMF GFS). Interest on public debt is pulled out of general public services so you can see it.
  • Totals. US, Germany, UK, Japan: IMF World Economic Outlook, April 2026. China: the four official 2025 budgets, consolidated. India: Centre + States FY2025/26 budget estimates. Each checked against the IMF (no gap above 2 percentage points of GDP).
  • Categories. Where 2025 detail isn't published yet, the 2025 total is split by the latest available structure (2024) and marked estimated. Anything that can't be sourced is left as Other / unallocated.
  • Dollars. IMF 2025 average market rates; PPP at the IMF's 2025 PPP GDP. Status: official (published as such), provisional (first estimate or budget), estimated (derived — the tooltip says how).

United States

2025 (calendar year). Federal, state and local government, consolidated (Medicaid grants counted once).

Category shares: 2024 (OECD); US sub-categories, interest and customs 2025 (BEA). Totals: provisional. IMF cross-check: revenue 30.88% of GDP here vs 30.88%, spending 37.7% vs 37.7%.

  • IMF totals exclude imputed interest on unfunded pension liabilities and imputed employee compensation (BEA includes them).
  • COFOG for the US has no separate environmental-protection line; it is spread across other functions.
  • Customs duties use BEA's 2025 figure because tariff revenue more than tripled from 2024.
  1. IMF World Economic Outlook database, April 2026 (general government revenue GGR, expenditure GGX, GDP)
  2. OECD Revenue Statistics — comparative tables (general government), 2024
  3. OECD National Accounts, Table 12: General government main aggregates, 2024
  4. US BEA NIPA Tables 3.1, 3.5, 3.16 and 7.11 (government receipts, taxes, expenditure by function, interest), 2025
  5. OECD National Accounts, Table 11: General government expenditure by function (COFOG), 2024

China

2025 (calendar year). All four budgets — general public, government-fund, state-capital and social-insurance — consolidated, with transfers between them removed.

Category shares: 2025 (official); smaller lines split by 2024 final accounts. Totals: official. IMF cross-check: revenue 26.7% of GDP here vs 25.01%, spending 34.23% vs 32.88%.

  • The official headline deficit (4% of GDP) covers only the general public budget. Consolidating all four budgets gives a broader deficit, close to the IMF's 7.9% of GDP.
  • The IMF's 'augmented' deficit, which adds local government financing vehicles (LGFVs), is larger still and is not shown.
  • Published defence spending is the budget line only; it excludes items such as some research, construction and paramilitary spending.
  1. China Ministry of Finance, 2025年财政收支情况 (2025 fiscal revenue and expenditure), 30 Jan 2026
  2. China MOF, 关于2025年中央和地方预算执行情况与2026年中央和地方预算草案的报告 (2025 budget execution report), Mar 2026
  3. China MOF, 2024年全国社会保险基金收入/支出决算表 (2024 national social insurance funds, final accounts)
  4. China MOF, 2024年全国政府性基金支出决算表 (2024 national government-fund expenditure, final accounts)
  5. China MOF, 2024年全国一般公共预算支出决算表 (2024 national general public budget expenditure, final accounts)

Germany

2025 (calendar year). Bund, Länder, Gemeinden and social security funds, consolidated.

Category shares: 2024 (OECD). Totals: provisional. IMF cross-check: revenue 47.88% of GDP here vs 47.88%, spending 50.55% vs 50.55%.

  • Tax detail from OECD Revenue Statistics; child benefit (Kindergeld) is netted off income tax there, which is why taxes look ~1pp of GDP lower than in the national accounts.
  1. IMF World Economic Outlook database, April 2026 (general government revenue GGR, expenditure GGX, GDP)
  2. OECD Revenue Statistics — comparative tables (general government), 2024
  3. OECD National Accounts, Table 12: General government main aggregates, 2024
  4. OECD National Accounts, Table 11: General government expenditure by function (COFOG), 2024

United Kingdom

2025 (calendar year). General government (central + local), calendar year — not the public-sector, fiscal-year PESA view.

Category shares: 2024 (OECD). Totals: provisional. IMF cross-check: revenue 38.27% of GDP here vs 38.27%, spending 43.64% vs 43.64%.

  • HM Treasury's PESA covers the whole public sector on an April–March basis; this page uses the general-government, calendar-year view so it compares with the others.
  1. IMF World Economic Outlook database, April 2026 (general government revenue GGR, expenditure GGX, GDP)
  2. OECD Revenue Statistics — comparative tables (general government), 2024
  3. OECD National Accounts, Table 12: General government main aggregates, 2024
  4. OECD National Accounts, Table 11: General government expenditure by function (COFOG), 2024

India

FY2025/26 (April–March), budget estimates. Union government and all States/UTs with legislatures, consolidated (tax devolution and grants counted once).

Category shares: FY2025/26 budget estimates. Totals: provisional. IMF cross-check: revenue 23.03% of GDP here vs 21.02%, spending 30.45% vs 28.46%.

  • Figures are budget estimates, not outturns.
  • States do most of the education and health spending, so the Union budget alone would badly understate both.
  1. Government of India, Economic Survey 2025-26, Statistical Appendix Table 2.6 (consolidated general government) and Chart XIII.2 (social services, source RBI)
  2. RBI Handbook of Statistics on Indian Economy 2025-26, Tables 99-101 (combined Centre and States)
  3. Government of India, Receipt Budget 2025-26 (tax revenue estimates)
  4. RBI State Finances: A Study of Budgets of 2025-26, Appendix I (revenue receipts of all States and UTs)
  5. Government of India (PIB), Union Budget 2025-26: Ministry of Defence allocation, 1 Feb 2025 — mirrored by GlobalSecurity.org
  6. MP-IDSA Issue Brief: India's Defence Budget 2025-26 (Rajiv & Singh, Feb 2025)

Japan

2025 (calendar year). Central government, local government and social security funds, consolidated.

Category shares: 2024 (OECD). Totals: estimated. IMF cross-check: revenue 35.8% of GDP here vs 35.8%, spending 36.86% vs 36.86%.

  • 2025 totals are IMF estimates (latest actual year 2024).
  • Social contributions use 2023 (OECD 2024 not yet published).
  1. IMF World Economic Outlook database, April 2026 (general government revenue GGR, expenditure GGX, GDP)
  2. OECD Revenue Statistics — comparative tables (general government), 2024
  3. OECD National Accounts, Table 12: General government main aggregates, 2024
  4. OECD National Accounts, Table 11: General government expenditure by function (COFOG), 2024
The numbers, as a table

United States · 2025 (calendar year)

Revenue
CategoryUSD bnUSD bn% of total% of GDPStatus
Taxes on income & profits3,7603,76032.412.2estimated
Social security contributions1,7901,79015.45.8estimated
Taxes on goods & services1,1501,1509.93.7estimated
Taxes on property8768767.52.8estimated
Taxes on international trade2692692.30.9provisional
Other taxes550.00.0estimated
Other revenue1,6521,65214.25.4estimated
Borrowing / deficit2,1002,10018.16.8provisional
Spending
CategoryUSD bnUSD bn% of total% of GDPStatus
Interest on public debt1,3091,30911.34.3provisional
General public services6286285.42.0estimated
Defence9189187.93.0estimated
Public order & safety5325324.61.7estimated
Economic affairs9869868.53.2estimated
Housing & community amenities1611611.40.5estimated
Health3,0363,03626.29.9estimated
Recreation, culture & religion75750.60.2estimated
Education1,6521,65214.25.4estimated
Social protection2,3032,30319.97.5estimated

China · 2025 (calendar year)

Revenue
CategoryCNY bnUSD bn% of total% of GDPStatus
Taxes on income & profits5,74980512.04.1official
Social security contributions8,6251,20718.06.2estimated
Taxes on goods & services9,3111,30419.46.6official
Taxes on property2,2003084.61.6official
Taxes on international trade237330.50.2official
Other taxes140200.30.1official
Other revenue11,1651,56323.38.0official
Borrowing / deficit10,5551,47822.07.5official
Spending
CategoryCNY bnUSD bn% of total% of GDPStatus
Social protection9,8281,37620.57.0estimated
Health4,4936299.43.2estimated
Education4,3426089.03.1official
Defence1,8122543.81.3estimated
Economic affairs8,0161,12216.75.7estimated
Interest on public debt1,4582043.01.0estimated
General public services2,1252984.41.5estimated
Public order & safety1,9552744.11.4estimated
Housing & community amenities7,7531,08516.25.5estimated
Environmental protection686961.40.5estimated
Recreation, culture & religion581811.20.4estimated
Other / unallocated4,93269110.33.5estimated

Germany · 2025 (calendar year)

Revenue
CategoryEUR bnUSD bn% of total% of GDPStatus
Taxes on income & profits59567226.313.3estimated
Social security contributions72281532.016.2estimated
Taxes on goods & services47854021.210.7estimated
Taxes on property45512.01.0estimated
Taxes on international trade670.30.1estimated
Other taxes110.00.0estimated
Other revenue29333113.06.6estimated
Borrowing / deficit1191355.32.7provisional
Spending
CategoryEUR bnUSD bn% of total% of GDPStatus
Interest on public debt52592.31.2estimated
General public services24127310.75.4estimated
Defence62702.71.4estimated
Public order & safety75843.31.7estimated
Economic affairs24828011.05.5estimated
Environmental protection26291.10.6estimated
Housing & community amenities22241.00.5estimated
Health34839315.47.8estimated
Recreation, culture & religion49552.11.1estimated
Education2052329.14.6estimated
Social protection9331,05341.320.9estimated

United Kingdom · 2025 (calendar year)

Revenue
CategoryGBP bnUSD bn% of total% of GDPStatus
Taxes on income & profits43457332.814.3estimated
Social security contributions18524414.06.1estimated
Taxes on goods & services30540223.010.0estimated
Taxes on property1141508.63.8estimated
Taxes on international trade570.40.2estimated
Other taxes460.30.1estimated
Other revenue1141518.63.8estimated
Borrowing / deficit16321512.35.4provisional
Spending
CategoryGBP bnUSD bn% of total% of GDPStatus
Interest on public debt831096.32.7estimated
General public services911196.83.0estimated
Defence65864.92.1estimated
Public order & safety62824.72.0estimated
Economic affairs1141518.63.8estimated
Environmental protection22281.60.7estimated
Housing & community amenities21281.60.7estimated
Health25233219.08.3estimated
Recreation, culture & religion18241.40.6estimated
Education14118510.64.6estimated
Social protection45760234.515.0estimated

India · FY2025/26 (April–March), budget estimates

Revenue
CategoryINR bnUSD bn% of total% of GDPStatus
Taxes on income & profits25,29928624.07.3provisional
Taxes on goods & services36,95641835.010.7provisional
Taxes on property3,381383.21.0provisional
Taxes on international trade2,400272.30.7provisional
Other taxes4510.00.0estimated
Other revenue11,71113211.13.4provisional
Borrowing / deficit25,72829124.47.4provisional
Spending
CategoryINR bnUSD bn% of total% of GDPStatus
Social protection13,61715412.93.9estimated
Education9,7891119.32.8provisional
Health6,290716.01.8provisional
Economic affairs34,58539132.810.0estimated
Interest on public debt18,83621317.95.4provisional
Defence5,204594.91.5provisional
Other / unallocated17,20019416.35.0estimated

Japan · 2025 (calendar year)

Revenue
CategoryJPY bnUSD bn% of total% of GDPStatus
Taxes on income & profits70,67147228.910.6estimated
Social security contributions87,22858335.713.1estimated
Taxes on goods & services44,13229518.06.6estimated
Taxes on property17,6171187.22.7estimated
Taxes on international trade98570.40.1estimated
Other taxes51330.20.1estimated
Other revenue16,5071106.72.5estimated
Borrowing / deficit6,993472.91.1estimated
Spending
CategoryJPY bnUSD bn% of total% of GDPStatus
Interest on public debt9,670654.01.5estimated
General public services13,162885.42.0estimated
Defence8,084543.31.2estimated
Public order & safety7,282493.01.1estimated
Economic affairs26,51617710.84.0estimated
Environmental protection7,370493.01.1estimated
Housing & community amenities3,707251.50.6estimated
Health47,53131819.47.2estimated
Recreation, culture & religion2,443161.00.4estimated
Education20,4001368.33.1estimated
Social protection98,48065840.314.8estimated

Full methodology, including every consolidation step: docs/methodology.md in the site's repository. Sources accessed 2026-09-30.