India’s fiscal deficit is around 63% of target

As per government data, India’s fiscal deficit during the April-July period was Rs 3.41 trillion ($50.91 billion), or 62.8% of the full-year target. Net tax receipts for the first 4 months of the current fiscal year to March 2014 touched Rs 1.45 trillion, while total expenditure was Rs 5.21 trillion. India’s fiscal deficit during the 2012-13 fiscal year ending March decreased to 4.9% of the country’s GDP, compared to 5.8% in 2011-12. The fiscal deficit target is 4.8% of GDP for the current fiscal year.