India's 2019/20 fiscal deficit at 4.59% of GDPIndia's 2019/20 fiscal deficit at 4.59% of GDP
FILE PHOTO: A cashier displays the new 2000 Indian rupee banknotes inside a bank in Jammu

NEW DELHI (Reuters) – India’s fiscal deficit for the last financial year that ran through March, missed the government estimate by nearly 80 basis points, data released on Friday showed.

India ended the year with a fiscal deficit of 4.59% of gross domestic product, against the target of 3.8%, the government data showed.

This would mean that the government will have limited space to provide economic relief to businesses and individuals hit by the coronavirus crisis at a time when the country’s central bank has already used a lot of its fire power.

(Reporting by Aftab Ahmed, Editing by William Maclean)