Initiatives Taken to Improve Indian
Question: Fiscal Consolidation.
With the resumption of the fiscal consolidation process in
budget 2012-13, the government seeks to bring down the fiscal deficit to 5.1 per
cent of GDP in 2012-13 from 5.9 per cent in 2011-12.
The correction in fiscal deficit is largely through revenue
augmentation. The move towards a nutrient based subsidy in fertilizer is
expected to reduce expenditure on fertilizer subsidy, while promoting balanced
use of fertilizer.