Need to reduce high fiscal deficit: Pranab

India's Finance Minister Pranab Mukherjee in Mumbai on Tuesday said that country's high fiscal deficit of 6.8 per cent, due to stimulus packages given out during the global economic slowdown, needs to be reduced. He set the goal of bringing fiscal deficit to 5.5 per cent in the year 2010-11 and further down to 4.1 per cent in 2011-12.