April-July Fiscal Deficit At 86.5% Of FY19 Target

New Delhi: India reported on Friday a fiscal deficit of Rs 5.4 lakh crore ($76.12 billion) for April-July, or 86.5 percent of the budgeted target for the current fiscal year compared with 92.4 percent a year earlier. Net tax receipts in the first four months of 2018/19 fiscal year that ends in March 2019 were Rs 2.93 lakh crore, government data showed.

India expects to trim the deficit to 3.3 per cent of GDP this fiscal year, after meeting an upwardly revised fiscal deficit target of 3.5 per cent of GDP in 2017/18.