India’s Fiscal Deficit Reaches 80% of Annual Target by February

India’s fiscal deficit for the April–February period stood at 12.5 trillion rupees ($132 billion), accounting for 80.4% of the government’s full-year target for the financial year ending March 31, according to official data released on Monday. The figures highlight the government’s continued spending momentum during the current fiscal cycle.

Net tax receipts during the period rose to 21.5 trillion rupees, compared with 20.2 trillion rupees collected in the same period last year. Non-tax revenues also increased significantly, reaching 5.8 trillion rupees versus 4.9 trillion rupees a year earlier, indicating stronger overall revenue generation.

Meanwhile, total government expenditure climbed to 40.4 trillion rupees from 38.9 trillion rupees in the previous year. Capital expenditure, which focuses on infrastructure development and long-term economic growth, rose to 9.3 trillion rupees, up from 8.1 trillion rupees in the corresponding period last year.

Pic courtesy: google/ images are subject to copyright