India’s April-June fiscal deficit at $44 billion – govt

India’s fiscal deficit for the three months through June touched 3.5 trillion rupees ($44.17 billion) or 21.2% of annual estimates while tax collections rose at a faster-than-expected pace, government data showed on Friday.
Net tax receipts rose to 5.06 trillion rupees while total expenditure was 9.48 trillion rupees, the data showed.

In February, while presenting the annual budget, Finance Minister Nirmala Sitharaman set the fiscal deficit target at 6.4% of GDP for 2022/23 starting April, compared to 6.7% in the previous fiscal year.
Source: Reuters (Reporting by Manoj Kumar and Aftab Ahmed; Editing by Frank Jack Daniel)