Fiscal deficit my go above 4.6%: Montek

However, Ahluwalia added, “I will say, if there is some slippage (in meeting fiscal deficit target), we should not mind.”

The government had proposed to bring down the fiscal deficit, which is the difference between the total expenditure and the total revenue, to 4.6 per cent of the GDP from 4.7  in the last fiscal.

Referring to the growth prospects during 2011-12, he said it could fall below 7.5 per cent, the Reserve Bank’s latest forecast. “Frankly, a lot depends on what is clearly deceleration,” he said.