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India's fiscal deficit touches 58.6% of annual target in 2 months

Net tax receipts during April-May period were Rs 33, 850 crore ($4.48 billion), while total expenditure was Rs 5.12 trillion, the data showed, indicating the government was front-loading its budgeted spending to combat the impact of pandemic

twitter-logoPTI | June 30, 2020 | Updated 19:03 IST
India's fiscal deficit touches 58.6% of annual target in 2 months

India's federal fiscal deficit in the first two months through May stood at Rs 4.66 trillion ($61.67 billion), or 58.6% of the budgeted target for the current fiscal year, government data showed on Tuesday.

Net tax receipts during April-May period were Rs 33, 850 crore ($4.48 billion), while total expenditure was Rs 5.12 trillion, the data showed, indicating the government was front-loading its budgeted spending to combat the impact of pandemic.

India's federal fiscal deficit touched 4.6% of GDP in 2019/20 fiscal year ending March, from initial estimates of 3.3%.

Also Read: Tamil Nadu to face fiscal deficit of Rs 85,000 crore: CM K Palaniswami

Also Read: How India can reduce trade deficit with China by FY21 itself

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