India’s fiscal deficit above 2016/17 target in 11 months to Feb

NEW DELHI India’s fiscal deficit in the first 11 months to February was 6.06 trillion rupees ($ 93.40 billion), or 113.4 percent of the budgeted target for the fiscal year ending in March 2017, government data showed on Friday.

The fiscal deficit was 107.1 percent of the full-year target during the same period a year ago.

Net tax receipts in the first 11 months of the 2016/17 fiscal year were 8.85 trillion rupees, the data showed.

The government’s tax receipts usually surge in the last month of the fiscal year, helping it meet the budgeted full-year fiscal deficit target.

New Delhi last month reiterated that it would meet the 2016/17 fiscal deficit target of 3.5 percent of gross domestic product.