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New Delhi , June 2

THE Union Finance Minister, Mr P. Chidambaram, has hinted that the Centre's fiscal deficit for 2005-06 would be less than 4.1 per cent of gross domestic product (GDP). It had been budgeted at 4.3 per cent of GDP.

Provisional data of the Controller General of Accounts showed that the fiscal deficit for 2004-05 stood at 4.1 per cent of the GDP, lower than the Budget estimate of 4.3 per cent and the revised estimate of 4.5 per cent.

"If the deficit has been reduced to 4.1 per cent last fiscal, then the Government has to do much better this fiscal. It has to be equal or less (than 4.1 per cent)", Mr Chidambaram said here on Thursday on the sidelines of launch of weather insurance product `Varsha Bima'.

The optimism on doing better than last year on the fiscal deficit front stems from expected revenue buoyancy as well as the intent to curtail government borrowings for the current year.

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