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April-Nov fiscal deficit touches nearly 115% of FY19 target at Rs 7.17 trn

The government is widely expected to miss its fiscal deficit target of 3.3% of GDP in the current financial year

Budget 2018
Illustration by Ajay Mohanty

The country's fiscal deficit touched 114.8 per cent of the full-year target of Rs 6.24 trillion at the end of November on account of lower revenue collections, showed government data Thursday. The fiscal deficit, or gap between expenditure and revenue, stood at Rs 7.16 trillion during April-November of the current financial year, reflecting deterioration in public finances. At the end of November 2017, the deficit was 112 per cent of the Budget Estimate (BE). The government has budgeted to cut the fiscal deficit to 3.3 per cent of GDP in 2018-19, from 3.53 per cent ...