India’s fiscal deficit reaches Rs 9.14 trillion in Apr-Dec, 56.7% of annual target
New Delhi: India’s fiscal deficit for April-December stood at Rs 9.14 trillion ($105.58 billion), accounting for 56.7% of the annual target, according to government data released on Friday.
Net tax revenue for the first nine months of the fiscal year, which runs from April to March, was Rs 18.43 trillion, or 71.3% of the yearly goal, up from Rs 17.3 trillion in the same period last year.
Total government spending reached Rs 32.3 trillion, representing 67% of the annual estimate, while capital expenditure—allocated for infrastructure projects—stood at Rs 6.85 trillion, or 61.7% of the target.
Government expenditure has been slower this year due to national elections, and capital outlays are likely to fall short of projections.
Some economists expect the fiscal deficit to be narrower than the 4.9% of GDP target for 2024-25 due to reduced spending.
The revised estimate for the current fiscal year and the target for the next will be announced in the Union Budget on Saturday.
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