India’s fiscal deficit reaches nearly 43% of budget target in May


Mumbai: India's fiscal deficit during April-May stood at Rs 2.29 lakh crore ($33.92 billion), or 42.9 per cent of the budgeted target for the fiscal year ending in March 2017, government data showed on Thursday.

The deficit was 37.5 per cent during the same period a year ago. Net tax receipts in the first two months of 2016/17 fiscal year were Rs 49,690 crore.