India's April-Feb fiscal deficit hits 76% of revised full-year target

Photo: Mint
Photo: Mint
 1 min read . Updated: 31 Mar 2021, 06:17 PM IST Manoj Kumar, Reuters

Net tax receipts were ₹12.16 trillion, while total expenditure was ₹28.19 trillion

NEW DELHI : India's federal fiscal deficit in the 11 months to the end of February stood at ₹14.01 trillion ($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, while total expenditure was ₹28.19 trillion, the data showed.

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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.

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