Finance Minster P Chidambaram today said, the government has planned fiscal consolidation measures to boost investor confidence, achieve higher economic growth and low inflation in the long term.

Speaking to reporters in New Delhi, the Finance Minister said, the government will also ensure that the poor are protected and the financial burden of welfare schemes is shared equally.

Mr. Chidambaram said, the government seeks the support of all sections of people for fiscal consolidation to strengthen the Indian economy. He said, the global economic crisis has brought stress on the Indian economy.

The Finance Minister also said, the Centre's flagship schemes will be protected under the fiscal consolidation measures to provide relief to the poor and weaker sections of the society. He said, the subsidies government will rely on Unique Identity number Aadhar for ensuring the subsidies reach the poor and to root out duplicacy.

The Finance Minister said, the government has accepted the recommendations of Kelkar Committee on fiscal consolidation. He said, the fiscal deficit of 5.3% in 2012-13 is expected to be brought down to 3 percent by the end of the 12 plan period.