Fiscal deficit exceeds full-year target in just seven months

India’s fiscal deficit in the first seven months of the financial year, at Rs. 6.49 lakh crore, exceeded the budgeted target for the entire year, coming in at 103.9% of that target, according to official data released on Friday.The fiscal deficit was 96.1% of the budgeted amount in the same period of the previous year.Net tax receipts were Rs. 6.61 lakh crore in the April-October 2018 period, which is only 44.7% of the budgeted estimates for the year, with just five months to go. Total receipts, at Rs. 8.08 lakh crore, were only 44.4% of the budgeted amount for the year. Total expenditure, on the other hand, stood at Rs. 14.5 lakh crore, which is 59.6% of the budget estimate for the year.

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