Fiscal deficit reaches nearly 88% of full-year target in December

The fiscal deficit stood at Rs 4.88 trillion ($71.90 billion) during April-December, or 87.9 per cent of the full-year target, government data showed on Friday.

The deficit was 100.2 per cent of the full-year target during the same period a year ago.

Net tax receipts were Rs 6.22 trillion in the first nine months of the fiscal year that ends in March 2016, while total spending touched Rs 13.14 trillion.

($1 = Rs 67.8700)

(Reuters)