India's federal fiscal deficit between April and May touched 2.04 trillion rupees ($25.84 billion), or 12.3 per cent of the year-to-March budgeted target, government data showed on Thursday.
In first two months of the current fiscal year, net tax receipts were 3.08 trillion rupees while total expenditure was 5.86 trillion rupees, the data showed.
In February, while presenting the annual budget, Finance Minister Nirmala Sitharaman set the fiscal deficit target at 6.4 per cent of the GDP for 2022/23 fiscal year starting April, compared to 6.7 per cent in the previous fiscal year.
($1 = 78.9520 Indian rupees)
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