Economy

Fiscal deficit for FY18 at 3.5% of GDP

India’s fiscal deficit in the year ended March 2018 came in at 3.53% of gross domestic product, in line with the revised estimates, government data showed on Thursday.

India revised its fiscal deficit target in February to 3.5% of GDP from 3.2% of GDP for the 2017/18 fiscal year. For the current fiscal year, the government estimates to trim the deficit to 3.3% of GDP.

The shortfall for the 2017/18 fiscal year was ₹5.9 trillion ($87.53 billion), the data showed.

New Delhi got ₹12.4 trillion in net tax receipts during the fiscal year.

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Printable version | Feb 22, 2020 3:52:11 AM | https://www.thehindu.com/business/Economy/fiscal-deficit-for-fy18-at-35-of-gdp/article24049721.ece

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