India’s fiscal deficit widens to Rs 7.58 lakh crore in April-October

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India’s fiscal deficit for the seven months through October reached Rs 7.58 lakh crore, or 45.6% of the annual estimate, government data showed on Wednesday.

Net tax receipts rose to Rs 11.71 lakh crore, while total expenditure stood at Rs 21.44 lakh crore, the data showed.

In February, presenting the annual budget, Finance Minister Nirmala Sitharaman set a fiscal deficit target for 2022/23 starting April at 6.4% of GDP, compared to 6.7% in the previous fiscal year.

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