India’s fiscal deficit hits 96.1% in August

Mon, Oct 02 2017, 10:30 AM

India’s fiscal deficit for the first five months of 2017-18 stood at Rs5,47,000 crore, which is 96.1% of what the government has estimated for the entire financial year. In 2016-17, at the same point, the corresponding figure was 76.4%. The government has been trying to increase its own spending to boost economic growth, which slowed to a three-year low of 5.7% in the June quarter. Yet, it maintains it will meet its 2017-18 fiscal deficit target of 3.2% of gross domestic product.