December 27, 2018 / 10:54 AM / 9 months ago

India's April-Nov fiscal deficit touches nearly 115 pct of FY target

NEW DELHI, Dec 27 (Reuters) - India’s April-November fiscal deficit stood at 7.17 trillion rupees ($101.93 billion), or 114.8 percent of the budgeted target for the current fiscal year, government data showed on Thursday.

Net tax receipts in the first eight months of the fiscal year that ends in March 2019 were 7.32 trillion rupees, data showed.

The government is widely expected to miss its fiscal deficit target of 3.3 percent of GDP in the current fiscal year, or announce spending cuts in the last quarter. ($1 = 70.3400 Indian rupees) (Reporting by Manoj Kumar; Editing by Subhranshu Sahu)

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