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India's April-December Fiscal Deficit Narrows to 7.01 Trillion Rupees, Says Government

Reuters
The Centre expects that it will benefit more than one crore central government employees and pensioners. The cost to exchequer is expected to be northwards of Rs 9,000 crore.

New Delhi: India's April-December fiscal deficit narrowed to 7.01 trillion rupees ($97.80 billion), or 112.4 percent of the budgeted target for the current fiscal year, government data showed on Monday.

In April-November, the fiscal deficit was 7.17 trillion rupees, or about 115 percent of the budgeted target.

Net tax receipts in the first nine months of the fiscal year that ends in March were 9.36 trillion rupees, the data showed.

The government has revised upward its fiscal deficit target to 3.4 percent of GDP in the current fiscal year from the previously estimated 3.3 percent.