April-Feb fiscal deficit at Rs 7.15 trillion, 120% of FY18 target

The Centre’s April-February fiscal deficit came in at Rs 7.15 trillion, a staggering 120.3 per cent of the full-year Revised Estimates (RE) of Rs 5.95 trillion. The official data was released on Wednesday. With numbers for March unreleased, meeting the revised fiscal deficit target of containing the deficit at 3.5 per cent of gross domestic product for the year will be an uphill task minus the expenditure squeeze.

However, the finance ministry asserted that the target will be met, which means expenditure might be curtailed substantially or carried forward to next year. 

The fiscal deficit rose primarily on the back