India’s April-September Fiscal Deficit At 29% Of Full-year Target – News18
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India’s fiscal deficit for April-September was Rs 4.75 lakh crore ($56.50 billion), or over 29% of the estimate for the financial year
The government’s spending has been lower due to general elections.(Representative image)
India’s fiscal deficit for April-September was 4.75 trillion rupees ($56.50 billion), or over 29% of the estimate for the financial year, government data showed on Wednesday.
Net tax receipts for the first six months of the current financial year were 12.65 trillion rupees, or 49% of the annual target, compared with 11.6 trillion rupees for the same period last year, data showed.
India’s financial year runs April through March.
Total government expenditure during the period was 21.1 trillion rupees, or about 44% of the annual goal, close to the spending of 21.2 trillion rupees in the same period last year.
The government’s spending has been lower due to general elections.
For the first six months, the government’s capital expenditure or spending on building physical infrastructure was 4.15 trillion rupees, or 37% of the annual target, as against 4.9 trillion rupees for the same period a year earlier.
The Indian government has pegged its fiscal deficit target at 4.9% of the gross domestic product in its latest budget, compared with 5.6% in the last fiscal year.
($1 = 84.0660 Indian rupees)
(This story has not been edited by News18 staff and is published from a syndicated news agency feed – Reuters)
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