Budget News: India 2011-12 fiscal gap breaches budgeted target: Govt

During the same period in the last fiscal year, fiscal deficit was 58.3% of the budgeted target.

Net tax receipts were Rs 4.6 trillion and total expenditure was Rs 10.02 trillion during the April-January period.

In February 2011, the government had budgeted a fiscal deficit of 4.6% of gross domestic product (GDP) for 2011-12 fiscal year that ends in March, but many private economists see the deficit for the year overshooting by a full percentage point on slowing growth and weak federal finances.

New Delhi has admitted meeting the fiscal gap target would be a "great challenge", but officials said they would try to keep the deficit under 5% of GDP by pruning expenditure.