8216;Fiscal deficit seen at 5.6 in FY8217;128217;

8220;They government have a huge problem. If fiscal deficit slippage is one per cent,next year if you want to bring it down to 4.1 per cent. There is going to be a huge problem,8221; he said.

Last month,Chief Economic Advisor Kaushik Basu had said that he expects fiscal deficit as a percentage of GDP to overshoot the target.

Prime Minister8217;s Economic Advisory Council Chairman had said that the fiscal deficit is likely to one per cent higher than the target of 4.6 per cent.

The government8217;s fiscal situation has shown deterioration at the end of the first nine months of the current financial year,mainly due to poor realisation of non-tax revenues and also the government has so far managed to raise Rs 1,145 crore this fiscal from disinvestment against a target of Rs 40,000 crore.

According to the Controller General of Accounts CGA data,the government8217;s fiscal deficit went up to Rs 3.81 lakh crore,or 92.3 per cent of the Budget estimates at the end of December.

For the current fiscal 2011-12,the government has estimated a deficit of Rs 4.12 lakh crore,or 4.6 per cent of the GDP.

The Centre8217;s fiscal deficit 8212; gap between overall expenditure and receipts 8212; was 45 per cent of the estimates in the same period last year.