New Delhi: India reported on Tuesday a fiscal deficit of 4.29 trillion ($62.57 billion) for April-June, or 68.7% of the budgeted target for the current fiscal year 2018-19 compared with 80.8% a year ago. Net tax receipts in the first quarter of 2018/19 fiscal year that ends in March 2019 were 2.37 trillion, government data showed.

India expects to trim the deficit to 3.3% of GDP in 2018-19, after meeting an upwardly revised fiscal deficit target of 3.5% of GDP in 2017/18.