Fiscal deficit crosses 77% of budgeted target in first four months of FY20

India’s fiscal deficit in the four months through July stood at 5.48 trillion rupees ($76.65 billion), or 77.8% of the budgeted target for the current fiscal year, government data showed on Friday.

Net tax receipts in the first four months of the fiscal year were 3.39 trillion rupees, while total expenditure was 9.47 trillion rupees, government data showed.

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