PIC in association with Mahratta Chamber of Commerce, Industries and Agriculture (MCCIA) organised a talk by eminent economist, Dr. Vijay Kelkar on the ‘Roadmap for Fiscal Consolidation’, which he submitted to the Hon’ble Finance Minister, Mr. P Chidambaram in September 2012.
Dr. Kelkar, Vice President, PIC, Former Finance Secretary, GoI was also the Chairman of the 13th Finance Commission. He is the Chairman of India Development Foundation (IDF) and Chairman at Janwani, MCCIA.
Dr. Kelkar highlighted on the strategies suggested by Kelkar Committee to reduce the Fiscal Deficit leading to a virtuous cycle accelerating GDP, growth & employment. Also, restructuring of government balance sheet by selling underperforming assets. According to the committee’s report, revenue generated can be used in building urban infrastructure, carrying out reforestation and making rivers clean, which in turn will generate employment. According to Dr.Kelkar, giving employment is the greatest example of inclusive growth.