April-December fiscal deficit at 4.07 trillion rupees
NEW DELHI (Reuters) - India's fiscal deficit during the April-December period was 4.07 trillion rupees, or 78.8 percent of the budgeted full fiscal year 2012/13 target, government data showed on Thursday.
During the same period in the previous fiscal year, the deficit was 92.3 percent of the budgetary target.
Net tax receipts for April-December stood at 4.84 trillion rupees while total expenditure was 9.91 trillion rupees.
In March 2012, the government had budgeted a fiscal deficit of 5.14 trillion rupees, or 5.1 percent of the gross domestic product (GDP), for the current fiscal year that ends in March.
However, in October, strained finances forced New Delhi to revise the deficit target to 5.3 percent.
($1 = 53.3950 rupees)
(Reporting by Manoj Kumar; editing by Malini Menon)
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This business of notes is livelihood for hundreds in Old Delhi, with vendors charging a fee of up to 20 percent to replace damaged banknotes. A mildly damaged 500 rupee note, for instance, can be exchanged for 480 rupees, while a bundle of crisp, new 10 rupee notes valued at 1,000 rupees is priced at 1,050 rupees. Full Article