Apr-Jan fiscal deficit at $52 bn: Govt

Written by Reuters | New Delhi | Updated: Feb 27 2009, 21:39pm hrs
India's fiscal deficit for the April-January period stood at 2.63 trillion rupees ($52 billion), or 80.5 per cent of an upwardly revised budget target, a government statement said on Friday.

Last week, the government revised upwards its fiscal deficit estimate for the year to end March to 3.27 trillion rupees or 6 per cent of gross domestic product, from 2.5 per cent estimated earlier.

The deficit has widened after the government announced extra spending of close to 1.5 trillion rupees to cover a farm debt scheme, subsidies and steps to stimulate a slowing economy.