Report of the committee on roadmap for fiscal consolidation

This Committee was mandated by the Finance Minister to give a report outlining a roadmap for fiscal consolidation in a medium term framework in pursuit of the FRBM Act and related targets.The Committee was charged with the task of introducing mid-term corrections in the current fiscal year 2012-13 and to chart a medium term framework on this basis, for the remaining time horizon of the Thirteenth Finance Commission. These corrections have to be necessarily feasible from a political economy perspective so as to carry credibility.