Home > News > Business India News

India's fiscal deficit widens to USD 76 billion in April-December

Posted on Jan 31, 09:03PM | IANS

New Delhi, Jan 31 : India's fiscal deficit widened to Rs.4.07 lakh crore (around USD 76 billion) in the first three quarters of the current financial year, government data showed Thursday.

The deficit during April-December period is almost 79 percent of the budgetary estimate of Rs.5.14 lakh crore for the entire financial year ending March 31, 2013.

In the union budget for 2012-13 presented in March last year, the then finance minister and now President Pranab Mukherjee had pegged the total budget deficit at Rs.5.14 lakh crore, or 5.1 percent of the country's gross domestic product (GDP).

Considering the trend so far it would be difficult to meet the 5.1 percent fiscal deficit target.

Finance Minister P. Chidambaram targets to contain the fiscal deficit at 5.3 percent of the GDP.