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India's fiscal deficit hits 59% of total budget target in April-May

Fiscal deficit for the two month period of April-May, 2020 stands at Rs 4.66 lakh crore which is 58.6% of the total budgeted Rs 7.96 lakh crore. The fiscal deficit is 27% higher than the level in April-May 2019 period. April-May revenue deficit stands at Rs 4.12 lakh crore versus Rs 3.21 lakh crore in the year-ago period. The April-May tax revenues stand at Rs 1.26 lakh crore versus Rs 2.14 lakh crore in the year ago period. Government spending for April-May 2020 stood at Rs 5.12 lakh crore versus Rs 5.13 lakh crore in the corresponding period last year.

Read More at CNBC TV18 News date : 1 Jul 2020, Wednesday

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