April-June fiscal deficit hits 81% of full-year target

India`s fiscal deficit touched 4.42 trillion rupees ($68.88 billion) during April-June period or 80.8% of the budgeted target for the current fiscal year that ends in March, government data showed on Monday.

The fiscal deficit was 61.1% of the full-year target during the same period a year ago.

Net tax receipts in the first three months of 2017/18 fiscal year were 1.77 trillion rupees ($27.59 billion), the data showed.

India aims to bring down its federal fiscal deficit to 3.2% of gross domestic product in 2017/18 compared with 3.5% in the previous year.