An indian villager woman marks a thumb impression in with drawl form to get money , In a rural bank branch , in Parila village, some 20 kms from Allahabad. (Photo by Ritesh Shukla/NurPhoto via Getty Images)

NEW DELHI (Reuters) – India’s fiscal deficit in the nine months to end-December stood at 11.58 trillion rupees ($158.74 billion), or 145.5% of the budgeted target for the whole fiscal year, government data showed on Friday.

Net tax receipts were 9.62 trillion rupees, while total expenditure was 22.8 trillion rupees, the data showed.

India’s fiscal deficit is projected to overshoot the initial estimates, 3.5% of GDP, in the current financial year ending in March, the government said in an economic survey report presented to parliament earlier on Friday.