NEW DELHI (Reuters) – India’s fiscal deficit for the first three months of the financial year that started April 1 touched 4.51 trillion Indian rupees ($54.86 billion), 25.3% of annual estimates, government data showed on Monday.
April-June net tax receipts were 4.3 trillion rupees, or 18.6% of the annual estimate, lower than 5.06 trillion rupees in the same period last year, according to the data.
Total expenditure during the period was 10.51 trillion rupees ,or 23.3% of the annual goal, lower than the 9.48 trillion rupees in the same period last year.
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In the first quarter of the financial year, government’s capital expenditure or spending on building infrastructure was 2.78 trillion rupees, or 28% of the annual target, higher than 1.75 trillion rupees last year.
India aims to narrow its fiscal deficit to 5.9% of gross domestic product by the end of the current fiscal year, against 6.4% last year.
($1 = 82.2120 Indian rupees)
First Published: Jul 31 2023 | 4:54 PM IST