Kelkar prescribes bitter pill for Chidambaram

After a sweetener in the form of asking the government to mop up tens of thousands of crores by way of selling surplus land held by government departments like the railways and port trusts, the Vijay Kelkar committee on fiscal consolidation has prescribed a very bitter pill for finance minister P Chidambaram. Compared with a likely 6% of GDP fiscal deficit in the current fiscal, the committee is believed to have come out with a 3% fiscal deficit target for 2015-16.

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