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Money News

India's Aprl-July fiscal deficit at $26.5 bln - govt

Labourers are silhouetted against the setting sun at the construction site in New Delhi in this April 7, 2007 file photo. India's fiscal deficit during April to July stood at 1.16 trillion rupees ($26.5 billion), or 87 percent of the annual target, the government said on Friday. REUTERS/Desmond Boylan

NEW DELHI (Reuters) - India’s fiscal deficit during April to July stood at 1.16 trillion rupees ($26.5 billion), or 87 percent of the annual target, the government said on Friday.

In February, the government set a fiscal deficit target of 1.33 trillion rupees, or 2.5 percent of gross domestic product for the 2008/09 fiscal year, lower than 2.8 percent in the previous year.

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