Union Finance Minister Pranab Mukherjee expressed confidence of bringing down the fiscal deficit to 5.5 per cent of the GDP in the current financial year.

‘We must come back to the path of fiscal consolidation as early as possible. That is why you have noticed in my budget proposal last I have included the recommendations and the roadmap given by the 13th Finance Commission in the wake of the higher fiscal deficit,’ he added.

Speaking to reporters after inaugurating the Centralised Processing Center of the Income Tax Department here, he hoped to contain the fiscal deficit as per his budget proposals.

Asked whether the government would use over Rs 60,000 crore collected through auction of 3G spectrum recently, he said it would provide some elbow room to the government.

‘But please allow me to use it in the best possible manner.’

UNI