April-November fiscal deficit touches 115% of FY18 target

Net tax receipts in the first eight months of the fiscal were 7.32 trillion

Reuters
Updated27 Dec 2018
The government is likely to miss its fiscal deficit target of 3.3% of GDP in the current fiscal. Photo: iStock
The government is likely to miss its fiscal deficit target of 3.3% of GDP in the current fiscal. Photo: iStock

New Delhi: India’s April-November fiscal deficit stood at 7.17 trillion ($101.93 billion), or 114.8% of the budgeted target for the current fiscal, government data showed on Thursday. Net tax receipts in the first eight months of the fiscal were 7.32 trillion, data showed. The government is likely to miss its fiscal deficit target of 3.3% of GDP in the current fiscal, or announce spending cuts in the last quarter.

During April-October, fiscal deficit stood at 6.49 trillion ($93.23 billion), or 103.9% of the budgeted target for current fiscal.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed

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