At ₹3.45 trillion, India’s April-May fiscal deficit at 55.3% of full-year target

The government 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.

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 the current fiscal year compared with 68.3% a year ago.

Net tax receipts in the first two months of 2018-19 fiscal year that ends next March were Rs1.02 trillion government data showed. (Bloomberg)

Net tax receipts in the first two months of 2018-19 fiscal year that ends next March were Rs1.02 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.