Fiscal deficit reaches 61.2 percent of full-year target

India's fiscal deficit during April-July stood at Rs.3.24 lakh crore or 61.2 percent of the full year target, government data showed Friday.

The deficit was 62.8 percent during the corresponding period in the previous fiscal year.

According to the data released by the Controller General of Accounts, during the period under review the total expenditure of the government was over Rs.5.03 lakh crore or 28.1 percent of the entire year estimates.

The fiscal deficit was over Rs 5.08 lakh crore or 4.5 percent of the GDP (Gross Domestic Product) in 2013-14.

The government had put in place measures for fiscal consolidation to bring down the deficit to three percent of the GDP by 2016-17.

The fiscal deficit target for the entire 2014-15 has been pegged at Rs.5.31 lakh crore or 4.1 percent of the GDP.

However, the total revenue and non-debt capital collection in the period under review stood at over Rs.1.79 lakh crore.