Fiscal deficit hits 55% of full-year target on the back of higher capex

The Centre’s fiscal deficit for the first two months of fiscal year 2018-19 stood at Rs 3.45 trillion, or 55 per cent of the full year target, on the back of higher capital expenditure. 

However, the pace of spending in relative terms was slower than the same period last fiscal. 

Fiscal deficit for April-May 2017 touched 68.3 per cent of the full year target.

The fiscal deficit target for 2018-19 is Rs 6.24 trillion, or 3.3 per cent of the gross domestic product (GDP).

“Fiscal deficit for April-May 2018 recorded a welcome year-on-year decline on the back of robust growth