NEW DELHI India's fiscal deficit during the April-October period rose to 3.68 trillion rupees, or 71.6 percent of the budgeted full fiscal year 2012/13 target, government data showed on Friday.
During the same period in the previous fiscal year, the deficit was 74.4 percent of the budget target.
Net tax receipts during the April-October period stood at 3.34 trillion rupees and the total expenditure was about 7.79 trillion rupees.
New Delhi is aiming to keep the deficit at 5.3 percent of GDP this fiscal year, a revision to the target of 5.1 percent in the March 2012 budget. (Reporting by Manoj Kumar)
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It remains to be seen whether Nifty will be able to break the 8,100 mark during October. With major events out of the way, the next trigger will be the Q2 FY16 earnings season which is expected to kick off next week. It is advisable for the investors to continue building their equity portfolio by utilising market volatility as an opportunity, writes Ambareesh Baliga. Full Article