Asia-Pacific News

India's fiscal deficit touches 94% of target: Govt

India's fiscal deficit touched 5.1 trillion rupees ($82.32 billion) during April-November, or 93.9 percent of the full-year target, government data showed on Tuesday.

The Indian rupee
Dhiraj Singh | Bloomberg | Getty Images

Net tax receipts touched 3.96 trillion rupees in the first eight months of the current fiscal year to March 2014, while total expenditure was 10.21 trillion rupees.

In the annual budget presented in February, Finance Minister P. Chidambaram had committed to narrow the fiscal deficit to 4.8 percent of gross domestic product (GDP) this fiscal year from 4.9 percent a year ago.