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India's April-December fiscal deficit narrows to 7.01 trillion rupees: Government

A rupee note is seen in this illustration photo.  Photograph:( Reuters )

Reuters New Delhi, Delhi, India Feb 04, 2019, 05.53 PM (IST)

India's April-December fiscal deficit narrowed to 7.01 trillion rupees ($97.80 billion), or 112.4 per cent of the budgeted target for the current fiscal year, government data showed on Monday.

In April-November, the country's fiscal deficit was 7.17 trillion rupees or about 115 per cent of the budgeted target.

Net tax receipts in the first nine months of the fiscal year that ends in March were 9.36 trillion rupees, the data showed.

The government has revised upward its fiscal deficit target to 3.4 per cent of GDP in the current fiscal year from the previously estimated 3.3 per cent.

Story highlights

The government has revised upward its fiscal deficit target to 3.4 per cent of GDP in the current fiscal year from the previously estimated 3.3 per cent.