New Delhi, Feb 1 (PTI) Finance Minister Piyush Goyal on Friday said the fiscal deficit will be at 3.4 per cent of GDP this year.

Presenting the Budget for 2019-20 in the Lok Sabha, Goyal also said that current account deficit is likely to be 2.5 per cent of GDP this year.

He further said India attracted USD 239 billion in FDI (foreign direct investment) in the last five years.

"We have liberalised FDI allowing more investment through automatic route," he said.

Stating that the government had "undertaken path-breaking structural reforms by introducing GST and other reforms", he said that the NDA government has been able to rein inflation.

"If we had not controlled inflation, our families would have been spending 35-40 per cent more on daily use items," Goyal said.

Fiscal deficit target set in budgetary policy, linked to current account outlook and FDI liberalisation measures. Fiscal deficit target is established in the Budget as a central fiscal policy parameter for the year, linked to an expected current account deficit measure and framed as managing aggregate demand and external balance through a definable deficit benchmark. The Budget highlights liberalisation of foreign direct investment channels, notably expansion of the automatic route, and cites the Goods and Services Tax and other structural reforms as measures contributing to inflation control and macroeconomic stability.