India’s April-Feb fiscal deficit touches 83% of annual target- govt

New Delhi (Reuters) -India’s fiscal deficit for the 11 months through February touched 14.54 trillion rupees ($177.02 billion), nearly 83% of annual estimates, government data showed on Friday.

Net tax receipts through February were 17.32 trillion rupees or 83% of the annual estimate and 17% higher than last year, per the data.

Total expenditure during the period was 34.93 trillion rupees or 83.4% of the annual goal and 11% higher than the government’s spending last year.

India has targeted a budget deficit of 6.4% for the fiscal year ending this month.

($1 = 82.1850 Indian rupees)

(Reporting by Nikunj Ohri and Shivangi Acharya in New Delhi; Editing by Dhanya Ann Thoppil)