For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

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

By Staff
|

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.

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

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.

Read more about: fiscal deficit
Story first published: Tuesday, December 31, 2019, 19:43 [IST]
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more