April-June fiscal deficit of Rs 4.29 trillion at 68.75% of FY18-19 target

India expects to trim the deficit to 3.3% of GDP this fiscal year

India reported on Tuesday a fiscal deficit of Rs 4.29 trillion ($62.57 billion) for April-June, or 68.7 per cent of the budgeted target for the current fiscal year compared with 80.8 per cent a year ago.

Net tax receipts in the first quarter of 2018/19 fiscal year that ends in March 2019 were Rs 2.37 trillion, government data showed.

India expects to trim the deficit to 3.3 per cent of GDP this fiscal year, after meeting an upwardly revised fiscal deficit target of 3.5 per cent of GDP in 2017/18.