New Delhi: India’s budget deficit in the first two months of the fiscal year that started 1 April, reached 27.3% of the annual target, the government’s auditor said. The deficit was Rs90,760 crore in the April-May period, compared with a full-year target of Rs3.32 trillion, the Controller General’s office said on its website on Tuesday.
The deficit was 54.9% of the annual target a year earlier.
Carlyle Group closes Asia fund worth $1 bn
Mumbai: Global private equity firm The Carlyle Group on Tuesday said it has closed its fourth Asian growth capital fund, Carlyle Asia Growth Partners IV (CAGP IV), with capital commitments of $1.04 billion. It will invest in companies in China, India, Korea and other Asian markets. It took 14 months to close the fund and nearly 40% of the investors in the fund are new, a statement from the firm said, demonstrating growing demand by investors for exposure to China and India. The last fund for the region, CAGP III, has made 22 investments in two-and-a-half years, 80% of these split between India and China.
— Staff writer