Fiscal deficit in April stood at Rs 1.57 lakh crore ($22.52 billion), or 22.3 per cent of the budgeted target for the current fiscal year, government data showed on Friday.

Net tax receipts in the first month of the fiscal year were Rs 71,637 crore, while total expenditure was Rs 2.55 lakh crore, government data showed.

The government has set a fiscal deficit target of 3.4 per cent for 2019/20, same as 2018/19.