India’s Fiscal Deficit touched Rs. 3.73 lakh crore during April-May period


India’s fiscal deficit touched Rs. 3.73 lakh crore amid April-May period or 68.3 percent of the budgeted target for the current fiscal year that ends in March, government data showed on Friday.

The fiscal deficit was 42.9 percent of the entire year target amid the same period a year prior.

Net tax receipts in the first two months of 2017/18 financial year were Rs. Rs. 67,670 crore, the data showed.

India plans to cut down its federal fiscal deficit to 3.2 percent of gross domestic product in 2017/18 compared and 3.5 percent in the earlier year.