India’s fiscal deficit at July- end touched 92.4 % of the budget mainly because of front loading of expenditure by various government departments. In absolute terms, the fiscal deficit- difference between expenditure and revenue Рwas Rs 5.04 lakh crore during April- July 2017-18, according to the data of Controller General of Accounts (CGA). During the same period of last financial year, 2016-17, it was 73.7 % of the target. For 2017-18, the government aims to bring down the fiscal deficit to 3.2 % of the GDP. Last fiscal, it had met the deficit target of 3.5 % of the GDP.

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