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India's April-November fiscal deficit at $76.2 billion
December 31, 2012 / 7:08 AM / 5 years ago

India's April-November fiscal deficit at $76.2 billion

NEW DELHI (Reuters) - India’s fiscal deficit during the April-November period was 4.13 trillion rupees, or 80.4 percent of the budgeted full fiscal year 2012/13 target, government data showed on Monday.

During the same period in the previous fiscal year, the deficit was 85.6 percent of the budget target.

Net tax receipts for April-November stood at 3.7 trillion rupees while total expenditure was about 8.7 trillion rupees.

In March, the government had budgeted a fiscal deficit of 5.14 trillion rupees, or 5.1 percent of the gross domestic product (GDP), for the fiscal year that ends in March 2013.

However, in October, strained finances forced New Delhi to revise the deficit target to 5.3 percent.

Reporting by Rajesh Kumar Singh; Editing by Sunil Nair

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