At Rs 6.2 trn, April-Dec fiscal deficit touches 113.6% of FY18 estimate

Net tax receipts in the first nine months of 2017/18 fiscal year were Rs 9 trillion; Jaitley revised the FY18 fiscal deficit target to 3.5% of GDP

India reported a fiscal deficit of Rs 6.21 trillion ($97.27 billion) for April-December or 113.6 per cent of the budgeted target for the current fiscal year that ends in March.

Net tax receipts in the first nine months of 2017/18 fiscal year were Rs 9 trillion, government data showed on Thursday.

India has upwardly revised its fiscal deficit target to 3.5 per cent of gross domestic product (GDP) for the 2017/18 fiscal year, Finance Minister Arun Jaitley told parliament earlier while unveiling the Union budget 2018 for the next fiscal year.