Fiscal deficit hits 52% of FY20 budgeted target at Rs 3.66 trillion

India's fiscal deficit in May stood at Rs 3.66 trillion ($53.04 billion), or 52 per cent of the budgeted target for the current fiscal year, government data showed on Friday.

Net tax receipts in the first two months of the fiscal year were Rs 1.15 trillion, while total expenditure was Rs 5.13 trillion, government data showed.

The government has set a fiscal deficit target of 3.4 per cent for 2019-20, same as 2018-19.