Finance Minister P Chidambaram today said containing fiscal deficit, current account deficit and inflation are big challenges that country is facing currently.However, he maintained that the problems were being addressed and that fiscal deficit will reach the target of 3 per cent in 2016-17.Chidambarm on a three-day visit to Tokyo to woo investors, told a press conference that foreign investors continue to place confidence in India.The Minister said that Indian economy was growing between 5 and 5.5 per cent in the just-ended financial year which he was not happy with.The economic growth in the current financial year has been estimated at around 6.1-6.7 per cent. On fiscal deficit, he said, it was brought down to 5.2 per cent in 2012-13.Every year it has been reduced by 0.6 per cent and the country will achieve fiscal deficit target of 3 per cent by 2016-17.