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Investing.com -- India’s fiscal deficit for the April-June period reached 2.8 trillion rupees ($31.96 billion), representing 17.9% of the estimated target for the financial year ending March 31, according to government data released Thursday.
The fiscal data showed net tax receipts stood at 5.4 trillion rupees, slightly lower than the 5.5 trillion rupees collected during the same period last year.
Non-tax revenue increased to 3.7 trillion rupees, up from 2.8 trillion rupees in the corresponding period a year ago.
Total (EPA:TTEF) government expenditure rose to 12.2 trillion rupees, compared with 9.7 trillion rupees in the same quarter of the previous year, marking a significant increase in spending.
Capital expenditure, which focuses on building physical infrastructure, climbed to 2.8 trillion rupees from 1.8 trillion rupees a year earlier, showing a substantial rise in infrastructure investment.
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