India's fiscal deficit came in at 5.76 percent of gross domestic product in the year 2011-12, the Ministry of Finance reported Friday. The actual deficit was slightly better than the revised estimate of 5.9 percent.
The government aims to narrow the deficit to 5.1 percent of GDP in the fiscal 2012-13 by limiting subsidies at below 2 percent of GDP.
The revenue deficit for 2011-12 was 4.34 percent of GDP compared to the revised estimate of 4.4 percent.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.