India’s fiscal deficit above 2016/17 target in 11 months to Feb
Fri Mar 31 2017
Ramesh Sridharan (877 articles)

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.

Ramesh Sridharan

Ramesh Sridharan

Ramesh Sridharan is our Stock Market Correspondent covering events and daily movements of stock markets in Asia. He is based in Mumbai

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