Apr-Feb fiscal deficit at $61 billion: Govt

Apr-Feb fiscal deficit at $61 billion: Govt
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First Published: Tue, Mar 31 2009. 05 29 PM IST
Updated: Tue, Mar 31 2009. 05 29 PM IST
New Delhi: India’s fiscal deficit for the April-February period was Rs3.07 trillion ($61 billion), or 94.1% of an upwardly revised budget target, a government statement said on Tuesday.
In February, the government revised upwards its fiscal deficit estimate for the year ending 31 March to Rs3.27 trillion, equivalent to 6% of gross domestic product from 2.5% estimated earlier.
The deficit has widened after the government announced extra spending of close to Rs1.5 trillion to cover a farm debt scheme, subsidies and steps to stimulate a slowing economy.
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First Published: Tue, Mar 31 2009. 05 29 PM IST
More Topics: Fiscal deficit | Growth | Revenue | Tax | GDP |