India reported on Friday a fiscal deficit of Rs 540,000 crore for April-July, or 86.5 percent of the budgeted target for the current fiscal year compared with 92.4 percent a year earlier.

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Net tax receipts in the first four months of 2018/19 fiscal year that ends in March 2019 were Rs 2,92,611, government data showed.

The country also received Rs 43,125 crore of non-tax revenue and Rs 13,731 crore of non-debt capital, it said.

Total expenditure incurred by the government is Rs 889,724 crore, out of which Rs.778,387 crore is on revenue account and Rs 111,337 crore is on capital account, the data showed

India expects to trim the deficit to 3.3 percent of GDP this fiscal year, after meeting an upwardly revised fiscal deficit target of 3.5 percent of GDP in 2017/18.

First Published:Aug 31, 2018 4:01 PM IST