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

Last Updated: Thu, Jan 31, 2013 13:30 hrs

New Delhi, Jan 31 (IANS) India's fiscal deficit widened to Rs.4.07 lakh crore (around $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.

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