Fiscal deficit reaches nearly 88% of full-year target in December

Fiscal deficit is seen at Rs 4,88,000 crore; it was 100.2% of the full-year target during the same period a year ago

India's fiscal deficit was Rs 4,88,000 crore ($71.90 billion) during April-December, or 87.9% of the full-year target, data from the government has revealed.

The deficit was 100.2% of the full-year target during the same period a year ago.

This means that the governnment will have to keep the excess of its expenditure over income  at  12.1% of budget estimates in the remaining three months of the fiscal. 

Meanwhile, net tax receipts were Rs 6,22,000 crore in the first nine months of the fiscal year that ends in March 2016, while total spending touched Rs 13,14,000 crore.