NEW DELHI, Sept 30 India's fiscal deficit
during the five months to August was 4.08 trillion
rupees ($61.3 billion) or 76.4 percent of the budgeted target
for the fiscal year ending in March 2017, government data showed
The deficit is usually higher in initial months as major
revenues, including income tax and dividends from state
companies, are mostly received towards the end of a financial
The fiscal deficit was 66.5 percent of the full-year target
during the same period a year ago.
Net tax receipts in the first five months of 2016/17 fiscal
year were 2.8 trillion rupees.
Finance Minister Arun Jaitley, who faces the challenge of
providing more funds for capital infusion in state banks, aims
to cut down the deficit to 3.5 percent of GDP from 3.9 percent
in the previous year.
($1 = 66.5850 Indian rupees)
(Reporting by Manoj Kumar; Editing by Malini Menon)