Fiscal deficit crosses 61% of budgeted target in first three months of 2019-20

India’s fiscal deficit in the three months ending in June stood at 4.32 trillion rupees ($62.80 billion), or 61.4% of the budgeted target for the current fiscal year, government data showed on Wednesday.

Net tax receipts in the first three months of the fiscal year were 2.51 trillion rupees, while total expenditure was 7.22 trillion rupees, government data showed.

The government has set a fiscal deficit target of 3.4% for 2019/20, same as 2018/19.