Fiscal deficit hits 112.4% of FY19 target at Rs 7.01 trn in Apr-Dec

Govt has revised upward its fiscal deficit target to 3.4% of GDP in the current fiscal year from the previously estimated 3.3%

Fiscal deficit touched 112.4 per cent of the full-year budget target of Rs 6.24 trillion at the end of December on account of lower revenue collections, government data showed on Monday.

The fiscal deficit, or gap between Government's expenditure and revenue, stood at Rs 7.01 trillion during April-December of the current financial year which ends in March.

At the end of December 2017, the deficit was 113.6 per cent of the Budget Estimate (BE).

The government has budgeted to cut the fiscal deficit to 3.3 per cent of GDP or Rs 6.24 trillion in 2018-19, from 3.53 per cent in the previous financial