Government expects to trim fiscal deficit to 3.3% of GDP this fiscal year.NEW DELHI: The government reported on Tuesday a fiscal deficit of Rs 5.9 lakh crore ($81.4 billion) for April-August, or 94.7 per cent of the budgeted target for the current fiscal year compared with 96.1 per cent a year earlier.Net tax receipts in the first five months of the fiscal year that ends in March 2019 were Rs 3.66 lakh crore, government data showed.The government expects to trim the deficit to 3.3 per cent of GDP this fiscal year, after meeting an upwardly revised fiscal deficit target of 3.5 per cent of GDP in 2017/18.
Thomson Reuters 2018(Except for the headline, this story has not been edited by TheIndianSubcontinent staff and is published from a syndicated feed.)