August 31, 2016 / 11:16 AM / 2 years ago

India's fiscal deficit reaches 74 percent of full-year target in July

NEW DELHI (Reuters) - India’s fiscal deficit INFISC=ECI during April-July was 3.93 trillion rupees ($58.69 billion), or 73.7 percent of the budgeted target for the fiscal year ending in March 2017, government data showed on Wednesday.

Indian Prime Minister Narendra Modi addresses the nation from the historic Red Fort during Independence Day celebrations in Delhi, India, August 15, 2016. REUTERS/Adnan Abidi/File Photo

The deficit was 69.3 percent during the same period a year ago.

Net tax receipts in the first four months of 2016/17 fiscal year were 2.22 trillion rupees.

($1 = 66.9650 Indian rupees)

Reporting by Rajesh Kumar Singh; Editing by Sunil Nair

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