Fiscal deficit touches 113.7% of full-year target in first 10 months

India reported on Wednesday a fiscal deficit of 6.77 trillion rupees ($103.72 billion) for April-January or 113.7 percent of the target originally set for the fiscal year that ends in March.

Net tax receipts in the first ten months of 2017/18 fiscal year were 9.7 trillion rupees, government data showed.

Finance Minister Arun Jaitley in his budget for 2018/19 said the fiscal deficit target for the current year has been raised to 3.5 percent of gross domestic product (GDP) from 3.2 percent.