Cash payout may save Rs 20K cr subsidy bill

BUS

Partially accepting recommendations of the Kelkar committee, finance minister P Chidambaram has revised the target for fiscal deficit to 5.3 per cent and called for strict austerity measures and cuts in non plan spending by government ministries, starting with the current fiscal.

To ease concerns over the deficit, Chidambaram had recently informed the Rajya Sabha that the government is checking its spends on central subsidies as well as trimming non-plan expenditure by 10 per cent.

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