Fiscal deficit reaches nearly 63 pct of full-year target - govt

Reuters

NEW DELHI (Reuters) - India's fiscal deficit during the April-July period was 3.41 trillion rupees, or 62.8 percent of the full-year target, government data showed on Friday.

Net tax receipts for the first four months of the current fiscal year to March 2014 touched 1.45 trillion rupees, while total expenditure was 5.21 trillion rupees.

The country's fiscal deficit during the 2012/13 fiscal year ending March fell to 4.9 percent of the country's gross domestic product, compared with 5.8 percent a year ago.

In the annual budget presented in February, Finance Minister P. Chidambaram had set the fiscal deficit target at 4.8 percent of GDP for the current fiscal year.

(Reporting by Rajesh Kumar Singh; Editing by Anupama Dwivedi)

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