NEW DELHI: India’s federal fiscal deficit in the five months to end Auguststood at 8.7 trillion rupees ($117.98 billion), or 109.3pc of the budgetedtarget for the current fiscal year, government data showed on Wednesday.
Net tax receipts were 2.84 trillion rupees, while total expenditure was12.5 trillion rupees, the data showed, indicating the government was facinga fall in tax receipts amid a rise in spending to combat the impact of thecoronavirus.
The deficit is predicted to exceed 8pc of GDP in the 2020/21 fiscal yearthat began in April, economists said, from initial government estimates of3.5pc, mainly due to a sharp economic contraction triggered by the pandemic.
