April-November fiscal deficit touches 115% of FY18 target
Net tax receipts in the first eight months of the fiscal were Rs 7.32 trillion
New Delhi: India’s April-November fiscal deficit stood at Rs 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 Rs 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 Rs 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
Editor's Picks »
- Why Tata Motors’ Project Charge at JLR is failing to recharge its shares
- Outlook on global profit growth worst since 2008 financial crisis
- Q3 results: ICICI Securities loses its retail broking crown
- High drug approvals to keep up pricing pressure for pharma firms
- Roads sector: Toll collections set to surge, but risks loom for developers