April-August Fiscal Deficit At $66.56 Billion: Government

The fiscal deficit for the five months through August touched 5.42 trillion Indian rupees ($66.56 billion) or 32.6% of annual estimates, government data showed on Friday.

Net tax receipts rose to about 7 trillion rupees while total expenditure was 13.9 trillion rupees, the data showed.

In February, while presenting the annual budget, Finance Minister Nirmala Sitharaman set the fiscal deficit target at 6.4% of GDP for 2022/23 starting April, compared to 6.7% in the previous fiscal year.

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