New Delhi : The higher fiscal deficit in the current financial year, that has touched 83 percent of the full year's target, is the result of increased tax refunds, Finance Minister Arun Jaitley said Friday.
"Higher tax refunds are getting reflected in fiscal deficit number. This year there were pending tax refunds estimated around Rs.120,000 crore," he told reporters here.
"It would be challenging to achieve the indirect tax aim. Direct tax target would be achievable. We would strive to achieve fiscal deficit aim for this fiscal," he added.