India’s fiscal deficit came in at Rs 3.85 lakh crore for the period between April and July. government data released today show.
India’s fiscal deficit came in at Rs 3.85 lakh crore for the period between April and July, government data released today show.
This was arrived by total spending being at Rs 6.01 lakh crore while revenue receipts were at Rs 2.09 lakh crore.
With this, the government has reached 69.3 percent of its FY16 target.
Fiscal deficit is the difference between government revenue and expenditure and is expressed as a percentage of GDP.
Last year, the government’s fiscal deficit had stood at 61.2 percent, indicating the government has spent early on in the year while revenues are yet to pick up in a significant way.
In other numbers, net tax receipts were at Rs 1.54 lakh crore while foreign direct investments improved 30 percent in the quarter gone by.