Admitting that fiscal deficit was a "major source of worry", Finance Minister Jaswant Singh on Thursday said pegging it at 5.6 per cent of GDP for the coming year was not "unsatisfactory" given the adverse circumstances.
"Resources are finite and the finance minister's ability is limited. It is not possible to reduce it with magical waiving of the wand," Singh said winding up the discussion on the Budget in the Rajya Sabha.
"I am not putting out excuses. But at 5.6 per cent of GDP fiscal deficit despite adversities is not unsatisfactory," Singh said, adding he was taking the views of Opposition to contain fiscal deficit "very seriously".
Agreeing with the members that corruption in the country was worrisome, Singh said bureaucratic reforms and rooting out of the menace would add at least two to three per cent growth though "I have no scientific basis for it".
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