India Fiscal Deficit Target Touches 115% Of Full Year Target In Nov

India's fiscal deficit between April and November 2019 stood at Rs 8.08 trillion ($113.20 billion) or 114.8 percent of the budgeted target for the current fiscal year, as per government data released on Tuesday.

Net tax receipts in the first eight months of 2019-20 were Rs 7.51 trillion, while total expenditure was Rs 18.20 trillion.

In very simple words, the fiscal deficit is a shortfall in a government's income when compared with its spending.

Separately, data released by the Reserve Bank of India (RBI) on Tuesday said that the current account deficit (CAD) narrowed in the September quarter of the fiscal year as the trade deficit shrank, but the momentum may not be sustainable.

The CAD fell to 0.9 percent of gross domestic product (GDP) in the second quarter of the fiscal year ending March 2020 from 2.9 percent in the same period a year ago. On a quarterly basis, it shrank from 2 percent of GDP in the June quarter.