India's April-May fiscal deficit at $57.7 billion - government

NEW DELHI (Reuters) - India's fiscal deficit touched 3.73 trillion rupees ($57.69 billion) during April-May period or 68.3 percent of the budgeted target for the current fiscal year that ends in March, government data showed on Friday. The fiscal deficit was 42.9 percent of the full-year target during the same period a year ago. Net tax receipts in the first two months of 2017/18 fiscal year were 676.7 billion rupees, the data showed. India aims to bring down its federal fiscal deficit to 3.2 percent of gross domestic product in 2017/18 compared with 3.5 percent in the previous year. ($1 = 64.6575 Indian rupees) (Reporting by Manoj Kumar; Editing by Malini Menon)