In _____, government of India set up a committee to review the fiscal reforms and suggest appropriate framework under the chairmanship of Vijay Kelkar.
2002-03
The question refers to the committee/task force headed by the noted economist Dr. Vijay Kelkar to review India's fiscal position and recommend a reform framework.
In 2002-03, the Government of India constituted task forces under Vijay Kelkar's chairmanship to suggest reforms in direct taxes and indirect taxes and to strengthen the fiscal framework of the country.
These recommendations were significant because they fed directly into the implementation of the Fiscal Responsibility and Budget Management (FRBM) Act, which set targets for reducing the fiscal and revenue deficits.
Kelkar's work in this period is also seen as an early foundation for later tax-reform ideas, including the eventual move towards a Goods and Services Tax (GST).
The reason the answer is a two-year label like 2002-03 is that in India fiscal and budgetary matters are expressed in financial years (April to March), so committees on fiscal reform are dated by financial year.
The other ranges, 2000-01, 2004-05 and 2006-07, do not correspond to the setting up of this particular Kelkar committee on fiscal reforms.
Therefore the committee under Vijay Kelkar to review fiscal reforms was set up in 2002-03.
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