Fiscal deficit narrows to 4.5 per cent of GDP in FY14

India's fiscal deficit during the 2013/14 fiscal year that ended in March was Rs 5.08 trillion ($86.08 billion), or equivalent to 4.5 per cent of the country's gross domestic product.

The deficit is lower than the downwardly revised estimate of 4.6 per cent provided by the government in the federal budget in February and is narrower than 4.9 per cent a year earlier.

According to government data released on Friday, net tax receipts were Rs 8.16 trillion and total expenditure was Rs 15.6 trillion during the fiscal year.

(Reuters)