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India’s Fiscal Deficit At 88 Percent Of Target In 9 Months

India News

Fiscal India www.purnartha.com

India’s fiscal deficit has touched 88 percent of the annual target as on end-December 2015, even as tax revenue crossed the two-thirds mark, as per the latest official estimates of the central government accounts released on Friday. As per the Controller General of Accounts, as opposed to a fiscal deficit target of Rs.5.55 lakh crore, the actual number has been Rs.4.88 lakh crore, or 88 percent, of the 2015-16 Budget estimates (BE). The fiscal deficit represents the total expenditure, minus the total receipts. The government has targeted a fiscal deficit of 3.9 percent of GDP for the this fiscal.