India's April-January fiscal deficit at $86.49 billion: government

NEW DELHI Thu Feb 28, 2013 6:01am EST

NEW DELHI (Reuters) - India's fiscal deficit during the April-January period was 4.66 trillion rupees ($86.49 billion), or 90.7 percent of the budgeted full fiscal year 2012/13 target, government data showed on Thursday.

During the same period in the previous fiscal year, the deficit was 105.4 percent of the budgetary target.

Net tax receipts for April-January stood at 5.28 trillion rupees while total expenditure was 11.1 trillion rupees.

In March 2012, the government had budgeted a fiscal deficit at 5.1 percent of the gross domestic product (GDP) for the current fiscal year that ends on March 31. It was later raised to 5.3 percent.

Earlier, Finance Minister P. Chidambaram said in his 2013/14 budget speech, the fiscal deficit for 2012/13 would come within 5.2 percent of GDP.

($1 = 53.8775 Indian rupees)

(Reporting by Arup Roychoudhury; editing by Malini Menon)

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

Find your dream retirement town

Florida? Hawaii? Reuters has teamed up with Zillow to give you the power to customize a list of your best places to retire.  Video | Full Article