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  Business   In Other News  30 Jun 2018  Govt says April-May fiscal deficit at 55.3 per cent of full-year target

Govt says April-May fiscal deficit at 55.3 per cent of full-year target

REUTERS
Published : Jun 30, 2018, 11:26 am IST
Updated : Jun 30, 2018, 11:26 am IST

India expects to trim the deficit to 3.3 per cent of GDP in this fiscal year.

Net tax receipts in the first two months of 2018-19 fiscal year that ends next March were 1.02 trillion rupees, government data showed.
 Net tax receipts in the first two months of 2018-19 fiscal year that ends next March were 1.02 trillion rupees, government data showed.

New Delhi: India reported on Friday a fiscal deficit of 3.45 trillion rupees (USD 50.37 billion) during April-May period, or 55.3 per cent of the budgeted target for the current fiscal year compared with 68.3 per cent a year ago.

Net tax receipts in the first two months of 2018-19 fiscal year that ends next March were 1.02 trillion rupees, government data showed.

 

India expects to trim the deficit to 3.3 percent of GDP in this fiscal year, after meeting an upwardly revised fiscal deficit target of 3.5 per cent of GDP in 2017-18.

Tags: fiscal deficit, tax revenue, gdp growth