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Last Updated Sunday August 19 2018 11:13 PM IST

Fiscal deficit on a worrisome overshoot

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Money The GDP overshoot is worrisome.

New Delhi: India reported on Wednesday a fiscal deficit of Rs 6.77 trillion ($103.72 billion) for April-January or 113.7 per cent of the target originally set for the fiscal year that ends in March.

Net tax receipts in the first ten months of 2017/18 fiscal year were Rs 9.7 trillion, government data showed.

Finance minister Arun Jaitley in his budget for 2018/19 said the fiscal deficit target for the current year has been raised to 3.5 per cent of gross domestic product (GDP) from 3.2 per cent.

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