India’s April-November fiscal deficit hits 112% of full-year target

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New Delhi | Published: December 29, 2017 2:26:18 PM

India reported a fiscal deficit of 6.12 trillion rupees ($95.77 billion) for April-November, or 112 percent of the budgeted target for the current fiscal year that ends in March.

india currency, india money, india fiscal deficit, indian economy, fiscal policy, net tax receipt, india tax, tax returns, tax paymentsOn Wednesday, the finance ministry said it would borrow an additional 500 billion rupees (.82 billion) this fiscal year that could lead to it breaching its fiscal deficit target of 3.2 percent of gross domestic product. (Reuters)

India reported a fiscal deficit of 6.12 trillion rupees ($95.77 billion) for April-November, or 112 percent of the budgeted target for the current fiscal year that ends in March. Net tax receipts in the first eight months of 2017/18 fiscal year were 6.99 trillion rupees ($109.39 billion), government data showed on Friday. On Wednesday, the finance ministry said it would borrow an additional 500 billion rupees ($7.82 billion) this fiscal year that could lead to it breaching its fiscal deficit target of 3.2 percent of gross domestic product.

(Further details awaited)

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