June 28, 2019 / 10:57 AM / 24 days ago

India's fiscal deficit hits 52% of budgeted target in first two months of 2019/20

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

NEW DELHI (Reuters) - India’s fiscal deficit in May stood at 3.66 trillion rupees ($53.04 billion), or 52% of the budgeted target for the current fiscal year, government data showed on Friday.

Net tax receipts in the first two months of the fiscal year were 1.15 trillion rupees, while total expenditure was 5.13 trillion rupees, government data showed.

The government has set a fiscal deficit target of 3.4% for 2019/20, same as 2018/19.

($1 = 69.0000 Indian rupees)

Reporting by Aftab Ahmed; Editing by Rashmi Aich

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