Fiscal deficit to be around target: FinMin

India’s fiscal deficit for the current fiscal year ending in March will be around the targeted 6.8 per cent of gross domestic product,a senior finance ministry official said on Tuesday.

The official said that direct tax receipts would exceed expectations while total tax receipts will meet target.

The finance minister had on Tuesday said India does not need to borrow more than planned to fund its additional proposed expenditure.

The government had said on Tuesday it would seek parliamentary approval to spend an extra Rs 257.25 billion for the fiscal year to end-March 2010.