For the April-May period, India's fiscal deficit reached Rs. 4.66 trillion or 58.6% of the budgeted target for the ongoing financial year, the government data released on Tuesday showed.
In the first two months through May, net tax receipts came in at Rs. 338.5 billion, while total expenditure stood at Rs. 5.12 trillion, revealing the government's stance on expanding its budgeted expenditure to fight the Covid 19 pandemic.
In the fiscal year 2019-20, the country's federal fiscal deficit was 4.6% of GDP, against initial estimates of 3.3%.