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India's fiscal deficit at Rs 4.66 trn, 58.6% of annual target in 2 months

Net tax receipts during April-May period were Rs 33,850 cr, while total expenditure was Rs 5.12 trillion

borrowing, fiscal deficit, market, stimulus
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India's federal fiscal deficit touched 4.6% of GDP in 2019/20 fiscal year ending March, from initial estimates of 3.3% | Illustration: Binay Sinha

BS Web TeamReuters New Delhi
India's federal fiscal deficit in the first two months through May stood at Rs 4.66 trillion ($61.67 billion), or 58.6% of the budgeted target for the current fiscal year, government data showed on Tuesday.

Net tax receipts during April-May period were Rs 33,850 cr ($4.48 billion), while total expenditure was Rs 5.12 trillion, the data showed, indicating the government was front-loading its budgeted spending to combat the impact of pandemic.

India's federal fiscal deficit touched 4.6% of GDP in 2019/20 fiscal year ending March, from initial estimates of 3.3%.

The latest figures for India's fiscal deficit come at a time when the Centre

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