Real story of Chidambaram’s fiscal discipline

Finance Minister Palaniappan Chidambaram won almost unanimous acclaim for ‘reining’ in fiscal deficit, as measured in GDP terms, at 5.2 per cent in 2012-13 and 4.8 per cent for 2013-14. Speaking on the deficit, the Finance Minister said, in para 10 of his speech, that with the acceptance of the Kelkar Committee prescriptions in September 2012, ‘red lines were drawn for the fiscal deficit’ at 5.3 per cent for 2012-13 and 4.8 percent for 2013-14.

Read Full Story>>