India's Q1 fiscal deficit at $43.57 bn
New Delhi: India's fiscal deficit stood at Rs 2.63 trillion (USD 43.57 billion) in the first quarter of the current fiscal year to March 2014, government data showed on Wednesday.
Net tax receipts for the first three months of 2013 touched Rs 1.02 trillion, while total expenditure was Rs 3.82 trillion.
Fiscal deficit during 2012/13 fiscal year ending March came down to 4.9 per cent of the country's gross domestic product, compared with 5.8 per cent a year ago.
In the annual budget presented in February, Finance Minister P Chidambaram had set the fiscal deficit target at 4.8 per cent of GDP for the current fiscal year.