Fiscal Deficit For FY18 At 3.5 Percent Of GDP

India's fiscal deficit in the year ended March 2018 came in at 3.53 percent of gross domestic product (GDP), in line with the revised estimates, government data showed on Thursday. India revised its fiscal deficit target in February to 3.5 percent of GDP from 3.2 percent of GDP for the 2017/18 fiscal year. For the current fiscal year, the government estimates to trim the deficit to 3.3 percent of GDP. The shortfall for the 2017/18 fiscal year was Rs 5.9 lakh crore ($87.53 billion), the data showed. India got Rs 12.4 lakh crore in net tax receipts during the fiscal year.

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