September 26: Finance Minister P. Chidambaram has staked his reputation on not crossing the 4.8% fiscal deficit target this year. However, this is going to be a tough task with the government being unable to hike diesel prices and now likely to get less than expected revenue from spectrum. As elections near, will we see big expenditure cuts? Former Secretary of Economic Affairs & Expenditure C.M. Vasudev says the UPA government’s populist expenditures and measures are only hurting growth.