New Delhi

India’s fiscal deficit for the first eight months of the financial year that began April 1 was ₹9.07 trillion ($109.06 billion), or 50.7% of the estimate for the whole year, government data showed on Friday.

April-November net tax revenues were ₹14.36 trillion, or about 62% of the annual estimate, compared with ₹12.25 trillion rupees in the same period last year, according to the data.

Total expenditure during the period was ₹26.52 trillion, or about 59% of the annual goal, compared with ₹24.43 trillion in the same period last year.

In the first eight months of the financial year, government capital expenditure or spending on building physical infrastructure was ₹5.86 trillion, or 58.5% of the annual target, higher than ₹4.47 trillion rupees in the same period a year earlier.

India aims to narrow its fiscal deficit to 5.9% of gross domestic product by the end of this fiscal year, from 6.4% last year.