April-June fiscal deficit at 68.7% of target

India reported a fiscal deficit of $62.57 billion for April-June, or 68.7 percent of the budgeted target for the current fiscal year compared with 80.8 percent a year ago. Net tax receipts in the first quarter of 2018/19 fiscal year that ends in March 2019 were 2.37 trillion rupees, government data showed. India expects to trim the deficit to 3.3 percent of GDP this fiscal year, after meeting an upwardly revised fiscal deficit target of 3.5 percent of GDP in 2017/18.

from The Economic Times https://ift.tt/2At9AqO