Fiscal deficit: In first two months, gap at over 68% of full-year target

Net tax receipts for the same period were Rs 67,670 crore, govt data shows

India's fiscal deficit touched Rs 3.73 lakh crore ($57.69 billion) during April-May period or 68.3 per cent of the budgeted target for the current fiscal year that ends in March, government data showed on Friday.

The fiscal deficit was 42.9 per cent of the full-year target during the same period a year ago.

Net tax receipts in the first two months of 2017/18 fiscal year were Rs 67,670 crore, the data showed.

India aims to bring down its federal fiscal deficit to 3.2 per cent of gross domestic product in 2017/18 compared with 3.5 percent in the previous year.

($1 = 64.6575 Indian rupees)