April-January fiscal deficit touches 113.7% of full-year target

India reported on Wednesday a fiscal deficit of Rs 6.77 trillion ($103.72 billion) for April-January or 113.7 per cent of the target originally set for the fiscal year that ends in March.

Net tax receipts in the first ten months of 2017/18 fiscal year were Rs 9.7 trillion, government data showed.

Finance Minister Arun Jaitley in his budget for 2018/19 said the fiscal deficit target for the current year has been raised to 3.5 per cent of gross domestic product (GDP) from 3.2 per cent.

The capital expenditure during the period stood at Rs 2.64 trillion.

The revenue deficit during the period was at Rs 4.8 trillion, revealed the data.