Fiscal deficit in April-November exceeds FY18 target

India reported a fiscal deficit of 6.12 trillion rupees ($95.77 billion) for April-November, or 112 percent of the budgeted target for the current fiscal year that ends in March.

Net tax receipts in the first eight months of 2017/18 fiscal year were 6.99 trillion rupees ($109.39 billion), government data showed on Friday.

On Wednesday, the finance ministry said it would borrow an additional 500 billion rupees ($7.82 billion) this fiscal year that could lead to it breaching its fiscal deficit target of 3.2 percent of gross domestic product.