The upcoming Budget is being presented in the backdrop of a slowing economy and rising inflation. Concerns over India slipping into stagflation have taken centre stage. The first advance estimates put India's economic growth at 5 per cent for the current fiscal. Government has pinned hopes on the economy turning a corner in the second half after growth slipped to 4.5 per cent in the second quarter. Government responded promptly to the deteriorating growth numbers and cut the corporate tax along with other measures to bolster a flagging economy. Come February 1, all eyes will be on finance minister Nirmala Sitharaman, who will present her second Budget at a time when concerns over government meeting its fiscal deficit target have mounted as revenue collection has taken a hit. What can Sitharaman do to present a Big-Bang Budget? Here is a six-point solution: 1. Forget fiscal consolidation for the time being To start with the government can come clean on the fiscal deficit numbers by reporting the off-Budget numbers and redraw the glide path taking into consideration the present state of the economy. Many experts, including the former finance secretary S C Garg, have said that India's deficit is larger than what is reported. A report in this paper said that the government is planning to report the true extent of India's fiscal deficit by including the off-budget liabilities.