November 30, 2018 / 12:04 PM / 12 days ago

India's April-October fiscal deficit crosses full year target

A cashier checks Indian rupee notes inside a room at a fuel station in Ahmedabad, September 20, 2018. REUTERS/Amit Dave

NEW DELHI (Reuters) - India’s April-October fiscal deficit stood at 6.49 trillion rupees ($93.23 billion), or 103.9 percent of the budgeted target for current fiscal year, government data showed on Friday.

Net tax receipts in the first seven months of the fiscal year that ends in March 2019 were 6.61 trillion rupees, government data showed.

The government has said it was confident of meeting its fiscal deficit target of 3.3 percent of GDP in the 2018/19 fiscal year.

($1 = 69.6150 Indian rupees)

Reporting by Manoj Kumar; Editing by Malini Menon

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