Government will be able to meet its fiscal deficit target of 4.6 per cent for 2011-12 despite duty reduction on crude petroleum and diesel. Talking to a select group of reporters in New Delhi today, Finance Secretary Sunil Mitra, however, admitted that rise in diesel and cooking gas prices will lead to some spike in inflation. Mitra said the Centre could lose 24,000 crore rupees to 25,000 crore rupees by way of indirect taxes due to duty cut. Mitra said that with three months of the fiscal gone, the loss would be lower.