Fiscal deficit crosses 61% of budgeted target in first 3 months of FY20

India's fiscal deficit in the three months ending in June stood at Rs 4.32 trillion ($62.80 billion), or 61.4% of the budgeted target for the current fiscal year, government data showed on Wednesday.

Net tax receipts in the first three months of the fiscal year were Rs 2.51 trillion, while total expenditure was Rs 7.22 trillion, government data showed.

The government has set a fiscal deficit target of 3.4% for 2019/20, same as 2018/19.

($1 = 69.0000 Indian rupees)