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India expects to trim the deficit to 3.3% of GDP in this fiscal year, after meeting an upwardly revised fiscal deficit target of 3.5% of GDP in 2017-18. Photo: Mint
India expects to trim the deficit to 3.3% of GDP in this fiscal year, after meeting an upwardly revised fiscal deficit target of 3.5% of GDP in 2017-18. Photo: Mint

India’s fiscal deficit reaches 55.3% of FY19 target in April-May

India reported a fiscal deficit of 3.45 trillion during April-May period, or 55.3% of the target for FY19 compared with 68.3% a year ago

New Delhi: India reported on Friday a fiscal deficit of 3.45 trillion ($50.37 billion) during the April-May period, or 55.3% of the budgeted target for fiscal year 2018-19 compared with 68.3% a year ago. Net tax receipts in the first two months of FY19 were 1.02 trillion, government data showed. India expects to trim the deficit to 3.3% of GDP in this fiscal year, after meeting an upwardly revised fiscal deficit target of 3.5% of GDP in 2017-18.

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