India's April-June fiscal deficit at 68.7 percent of FY target

India reported on Tuesday a fiscal deficit of 4.29 trillion rupees ($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

India's April-June fiscal deficit at 68.7 percent of FY target
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. Image source: Reuters
Written By: Reuters
Updated: Tue, Jul 31, 2018
04:18 pm
Reuters
RELATED NEWS
Budget in a Minute: What is 80C and 24B? Anil Singhvi explains how to save money through income tax exemptions on home loans! Budget in a Minute: What is 80C and 24B? Anil Singhvi explains how to save money through income tax exemptions on home loans!

India reported on Tuesday a fiscal deficit of 4.29 trillion rupees ($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.
($1 = 68.5650 Indian rupees)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.