Fiscal Deficit for First Quarter at 31% for Year's Forecast

Deficit for the first quarter is 31% of the government's forecast for the full financial year of 2009-10.

Indian Government has reported a fiscal deficit of over Rs. 1,24,302 crores for the quarter of the 2009-10 fiscal year.

According to the figures released by the Controller General of Accounts on Friday, for the first three month (April - June) of 2009...tax collections stood at Rs. 63,341 crores while expenditure was 1,97,000 crore

Earlier this month, the Central Government in Delhi had forecasted that the fiscal deficit for the period from April 2010 to March 2009 would be at Rs. 4,01,000 crores. At 1,24,302 crores for the first quarter it is already 31%.