India's fiscal deficit in the April-July stood at Rs 8.21 lakh crore as against Rs 5.47 lakh crore year-on-year, as per data released on August 31. This, against the Rs 7.96 lakh crore budgeted target.
While the total receipts for the first quarter of the fiscal stood at 2.32 lakh crore, the expenditure was Rs 10.54 lakh crore.
For the month of July, the fiscal deficit was at Rs 1.59 lakh crore while the revenue deficit came in at 1.37 lakh crore.
Private economists predict that the deficit is likely to cross 7.5 percent of the GDP in the 2020-21 fiscal year that began in April, mainly on account of the economic disruption led by the coronavirus pandemic.
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