April-Jan fiscal deficit overshoots full-year target: Govt

New Delhi: India`s January fiscal deficit overshot the full-year target as the gap swelled to 5.68 trillion rupees ($91.70 billion), or 107 percent of the target for the 2014/15 fiscal year ending in March, government data showed on Monday.

The deficit was 98.2 percent during the same period a year ago.

However, while presenting the federal annual budget on Saturday, Finance Minister Arun Jaitley said the government would meet the budgeted fiscal deficit target of 4.1 percent of GDP for the year ending March 31 through spending cuts and higher tax collection.