On managing fiscal deficit, Garg said the government has worked in a very prudent and sound manner. India would shortly achieve the targeted 3% fiscal deficit level and it will be more permanent and sustainable in nature.

The RITES stock is available at a price band of Rs 180-185 per share. The IPO closes on June 22.

On Tuesday, the government launched the FFO of Bharat-22 Exchange Traded Fund (ETF), comprising shares of 22 companies. The issue received subscriptions from investors such as mutual funds houses, foreign portfolio investors (FPI), insurance and retirement funds.

The clearance will enable the Baba Ramdev-led company to meet the Centre's June 30 deadline to complete the acquisition of land, for the final approval to set up the food park

The agency further charged Mallya with diverting Rs 255 crore to the UK and from there transferring it into the account of his Formula 1 team. IN 2008, Mallya diverted Rs15.9 crore of the loan money from KAL account into the account of RCB.