Fiscal deficit in Apr-Aug at $33.65 bn

Fiscal deficit in Apr-Aug at $33.65 bn

New Delhi: India’s fiscal deficit from April to August was Rs1.51 trillion ($33.65 billion), or 39.7% of the full-year target, the government said in a statement on Thursday.

Tax receipts were Rs1.39 trillion and total expenditure was Rs4.48 trillion for the first five months of the 2010-11 fiscal year.

In February 2010, the government had forecast a fiscal deficit of Rs3.81 trillion, or 5.5% of gross domestic product (GDP), for the current financial year.

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