December 29, 2017 / 8:29 AM / 9 months ago

India's April-Nov fiscal deficit hits 112 percent of full-year target

NEW DELHI (Reuters) - India reported a fiscal deficit of 6.12 trillion rupees ($95.77 billion) for April-November, or 112 percent of the budgeted target for the current fiscal year that ends in March.

FILE PHOTO: An India Rupee note is seen in this illustration photo June 1, 2017. REUTERS/Thomas White/Illustration/File Photo

Net tax receipts in the first eight months of 2017/18 fiscal year were 6.99 trillion rupees ($109.39 billion), government data showed on Friday.

On Wednesday, the finance ministry said it would borrow an additional 500 billion rupees ($7.82 billion) this fiscal year that could lead to it breaching its fiscal deficit target of 3.2 percent of gross domestic product.

($1 = 63.9250 Indian rupees)

Reporting by Manoj Kumar; Editing by Biju Dwarakanath

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