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India's fiscal deficit reaches 92.4 percent of full-year target in July

Labourers work at the site of a government hospital building under construction in New Delhi February 3, 2015. REUTERS/Adnan Abidi/Files

NEW DELHI (Reuters) - India reported fiscal deficit of 5.05 trillion rupees ($79.01 billion) for April-July or 92.4 percent of the budgeted target for the current fiscal year that ends in March 2018.

The deficit was 73.7 percent of the full-year target during the same period a year ago.

Net tax receipts in the first four months of 2017/18 fiscal year were 2.58 trillion rupees, government data showed on Thursday.

India aims to trim the fiscal deficit to 3.2 percent of gross domestic product in 2017/18 compared with 3.5 percent in the previous year.

($1 = 63.9200 Indian rupees)

Reporting by Rajesh Kumar Singh; Editing by Malini Menon

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