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India's fiscal deficit reaches nearly 63% of full-year target

By Rajesh Kumar Singh
Last updated on: August 30, 2013 16:06 IST

DeficitIndia's fiscal deficit during the April-July period was Rs 3.41 trillion ($50.91 billion), or 62.8 per cent of the full-year target, government data showed on Friday.

Net tax receipts for the first four months of the current fiscal year to March 2014 touched Rs 1.45 trillion, while total expenditure was Rs 5.21

trillion.

India's fiscal deficit during the 2012/13 fiscal year ending March fell to 4.9 per cent of the country's gross domestic product, compared with 5.8 per cent a year ago.

In the annual budget presented in February, Finance Minister P Chidambaram had set the fiscal deficit target at 4.8 per cent of GDP for the current fiscal year.

Rajesh Kumar Singh in New Delhi
Source: source
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