Last Updated:
India’s fiscal deficit for April-September was Rs 4.75 lakh crore ($56.50 billion) or over 29% of estimate for the financial year
The government’s spending has been lower due to general elections.(Representative image)
India’s fiscal deficit for April-September was Rs 4.75 lakh crore ($56.50 billion), or over 29% of the estimate for the financial year, government data showed on Wednesday.
Net tax receipts for the first six months of the current financial year were Rs 12.65 lakh crore, or 49% of the annual target, compared with Rs 11.6 lakh crore for the same period last year, data showed.
India’s financial year runs from April through March.
Total government expenditure during the period was Rs 21.1 lakh crore, or about 44% of the annual goal, close to the spending of Rs 21.2 lakh crore in the same period last year.
The government’s spending has been lower due to general elections.
For the first six months, the government’s capital expenditure or spending on building physical infrastructure was Rs 4.15 lakh crore, or 37% of the annual target, as against Rs 4.9 lakh crore for the same period a year earlier.
The Indian government has pegged its fiscal deficit target at 4.9% of the gross domestic product in its latest budget, compared with 5.6% in the last fiscal year.
($1 = 84.0660 Indian rupees)
