Fiscal deficit crosses 77% of budgeted target in first 4 months of FY20

Net tax receipts in the first four months of the fiscal year were Rs 3.39 trillion, while total expenditure was Rs 9.47 trillion, government data showed

The government's fiscal deficit touched Rs 5.47 trillion in the June quarter, which is 77.8 per cent of the budget estimate for 2019-20.

In absolute terms, the fiscal deficit or gap between expenditure and revenue was Rs 5,47,605 crore at July-end, as per the data released by the Controller General of Accounts (CGA) on Friday.

The fiscal deficit stood at 86.5 per cent of 2018-19 budget estimate in the year-ago period.

The government estimates the fiscal deficit to be at Rs 7.03 trillion during 2019-20.

It aims to restrict the deficit at 3.4 per cent of the GDP in the