India's fiscal deficit during the first quarter (April-June) of 2014-15 touched Rs.2.97 lakh crore ($49.2 billion), or 56.1 percent of the full-year target, government data showed here Thursday.
The deficit was 48.4 percent in the corresponding period during the previous fiscal.
The fiscal deficit was Rs.5,08,149 crore or 4.5 per cent of the gross dromestic product (GDP) in 2013-14, down from 4.9 per cent in the previous fiscal year.