May 31, 2018 / 1:36 PM / 18 days ago

India's 2017/18 fiscal deficit at 3.5 percent of GDP

NEW DELHI (Reuters) - India’s fiscal deficit in the year ended March 2018 came in at 3.53 percent of gross domestic product, in line with the revised estimates, government data showed on Thursday.

An rupee note is seen in this illustration photo June 1, 2017. REUTERS/Thomas White/Illustration

India revised its fiscal deficit target in February to 3.5 percent of GDP from 3.2 percent of GDP for the 2017/18 fiscal year. For the current fiscal year, the government estimates to trim the deficit to 3.3 percent of GDP.

The shortfall for the 2017/18 fiscal year was 5.9 trillion rupees ($87.53 billion), the data showed.

New Delhi got 12.4 trillion rupees in net tax receipts during the fiscal year.

($1 = 67.4050 Indian rupees)

Reporting by Neha Dasgupta; Editing by Malini Menon

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