India on Friday reported a fiscal deficit of ₹3.45 trillion ($50.37 billion) during April-May period, or 55.3% of the budgeted target for the current fiscal year compared with 68.3% a year earlier.
Net tax receipts in the first two months of 2018/19 fiscal year that ends next March were ₹1.02 trillion, government data showed.
India expects to trim the deficit to 3.3% of GDP in this fiscal year, after meeting an upwardly revised fiscal deficit target of 3.5% of GDP in 2017/18.