India's April-May fiscal deficit at Rs 2.04 lakh crore: Govt

India's federal fiscal deficit between April and May touched Rs 2.04 lakh crore ($25.84 billion), or 12.3% of the year-to-March budgeted target, government data showed on Thursday.

In first two months of the current fiscal year, net tax receipts were Rs 3.08 lakh crore while total expenditure was Rs 5.86  lakh crore, the data showed.

In February, while presenting the annual budget, Finance Minister Nirmala Sitharaman set the fiscal deficit target at 6.4% of the GDP for 2022/23 fiscal year starting April, compared to 6.7% in the previous fiscal year.

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