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India's April-Feb fiscal deficit at US$86.5b: govt
[NEW DELHI] India's fiscal deficit was 5.73 trillion rupees (US$86.49 billion) during April-February, or 107.1 per cent of the full-year target, government data showed on Thursday.
The deficit was 117.5 per cent of the full-year target during the same period a year ago.
The deficit figure tends to exceed the budgeted target nearer to the end of fiscal year, but gets adjusted against hefty tax inflows in March, when the fiscal year ends.
Net tax receipts were 7.36 trillion rupees in the first eleven months of the fiscal year to end-March 2016, while total spending was 15.56 trillion rupees.