April-May fiscal deficit at $40.05 billion

India's fiscal deficit in the first two months of the 2014/15 financial year touched 2,408.37 billion rupees ($40.05 bln), or 45.6% of the full-year target, government data showed on Monday.

India's fiscal deficit in the first two months of the 2014/15 financial year touched 2,408.37 billion rupees ($40.05 bln), or 45.6% of the full-year target, government data showed on Monday.

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The deficit was 33.3% during the comparable period in the previous fiscal year.

Net tax receipts were at 286.51 billion rupees in the first two months of the current fiscal year to March 2014, while total expenditure was about 2.8 trillion rupees.