Federal fiscal deficit at 17.2% of 2024/2025 target as of July

India's fiscal deficit for April-July was Rs 2.77 lakh crore ($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 Rs 7.15 lakh crore, or 27.7 per cent of the annual target, compared with Rs 5.83 lakh crore for the same period last year, according to the data.

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

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