India’s April-Feb fiscal deficit at 76% of revised FY target: Govt data

Net tax receipts were 12.16 trillion rupees, while total expenditure was 28.19 trillion rupees, the data showed


Fiscal Deficit | Direct tax receipts | Fiscal health

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NEW DELHI (Reuters) – India’s federal fiscal deficit in the 11 months to the end of February stood at 14.01 trillion rupees ($191.61 billion), or 76% of the revised budgeted target for the whole fiscal year, government data showed on Wednesday.

Net tax receipts were 12.16 trillion rupees, while total expenditure was 28.19 trillion rupees, the data showed.

On Feb. 1, the government revised its fiscal deficit target for the current year that runs through March to 9.5% of gross domestic product (GDP), instead of its original target of 3.5% of GDP as the coronavirus pandemic led to lower tax collection and higher spending.

($1 = 73.1170 Indian rupees)

(Reporting by Manoj Kumar; Editing by Andrew Heavens)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Wed, March 31 2021. 17:44 IST