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Net tax receipts during April-May period were 338.5 billion rupees ($4.48 billion), while total expenditure was 5.12 trillion rupees, the data showed, indicating the government was front-loading its budgeted spending to combat the impact of pandemic.
- Reuters New Delhi
- Last Updated: June 30, 2020, 5:10 PM IST
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India’s federal fiscal deficit in the first two months through May stood at 4.66 trillion rupees ($61.67 billion), or 58.6% of the budgeted target for the current fiscal year, government data showed on Tuesday.
Net tax receipts during April-May period were 338.5 billion rupees ($4.48 billion), while total expenditure was 5.12 trillion rupees, the data showed, indicating the government was front-loading its budgeted spending to combat the impact of pandemic.
India’s federal fiscal deficit touched 4.6% of GDP in 2019/20 fiscal year ending March, from initial estimates of 3.3%.
Source: News18