India April-June fiscal deficit at $8.64 bn: Govt

NEW DELHI: India's fiscal deficit for the April-June quarter touched Rs 401.96 billion ($8.64 billion), or 10.5 per cent of the full-year target, mainly due to receipts of about Rs 1 trillion from sale of radio spectrum, the government said on Friday.

The fiscal deficit during the first quarter in the 2009/10 fiscal year stood at 31 per cent of the full-year's revised gross domestic product estimates. Tax receipts were Rs 839.94 billion and total expenditure was Rs 2.42 trillion for the first three months of the 2010/11 fiscal year.

In February 2010, the government had forecast a fiscal deficit of Rs 3.81 trillion, or 5.5 per cent of gross domestic product for the current financial year.