India's federal fiscal deficit is at 17.2% of 2024/2025 target as of July

Fiscal deficit:  India's fiscal deficit for April-July was 2.77 trillion rupees ($33.05 billion), or 17.2 per cent of the estimate for the financial year, government data showed on Friday.

Net tax receipts for the period were 7.15 trillion rupees, or 27.7 per cent of the annual target, compared with 5.83 trillion rupees for the same period last year, according to the data.

Total government expenditure during the period was 13 trillion rupees, or about 27 per cent of the annual goal, lower than the 13.81 trillion rupees in the same period last year.

For the first four months, the government's capital expenditure or spending on building physical infrastructure was 2.61 trillion rupees, or 23.5 per cent of the annual target, against 3.2 trillion rupees for the same period a year earlier.

The Indian government has pegged its fiscal deficit target to 4.9 per cent of GDP in its latest budget, compared with 5.6 per cent in the last fiscal year.