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April-November fiscal deficit touches 115% of FY18 target

1 min read 27 Dec 2018, 04:32 PM IST Reuters

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

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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Updated: 27 Dec 2018, 04:44 PM IST