India’s April-November fiscal deficit touches 115% of budget target

India’s April-November fiscal deficit stood at Rs 7.17 trillion ($101.93 billion), or 114.8% of the budgeted target for the current fiscal year, government data showed on Thursday.

Net tax receipts in the first eight months of the fiscal year that ends in March 2019 were Rs 7.32 trillion, data showed.

The government is widely expected to miss its fiscal deficit target of 3.3% of GDP in the current fiscal year, or announce spending cuts in the last quarter.