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April-Jan fiscal deficit overshoots full-year target

Finance Minister Arun Jaitley said the government would meet the budgeted fiscal deficit target of 4.1 per cent of GDP for the year ending March 31 through spending cuts and higher tax collection.

Manoj Kumar   New Delhi     Last Updated: March 2, 2015  | 19:12 IST
April-Jan fiscal deficit overshoots full-year target

January's fiscal deficit overshot the full-year target as the gap swelled to Rs 5.68 ($91.70 billion), or 107 per cent of the target for the 2014/15 fiscal year ending in March, government data showed on Monday.

The deficit was 98.2 per cent during the same period a year ago.

However, while presenting the annual Budget on Saturday, Finance Minister Arun Jaitley said the government would meet the budgeted fiscal deficit target of 4.1 per cent of GDP for the year ending March 31 through spending cuts and higher tax collection.

($1 = Rs 61.9405 )

(Reuters)

 

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