Hi Minal,
There is nothing wrong working as consultant/contractor in a company. I started working in a small firm but got an opportunity to work in one of big MNC's as contractor, intially i hesitated but it proved to be my trump card. I moved on from there and currently holding a senior position in different firm.
As consultant,you will be almost kept busy all the time. So be prepared for it and if you get an opportuniy then use it as a platform to learn new things on the job.
Yes, you can switch over to CoreHR if you are really keen in it. One more option for you would be, to get into a company in Recruitment and try to move to HR Generalist role within the company. Remember it will take lot of time and you have to prove yourself in Recruitment so that people can have trust and confidence in you.
Even if you are Recruitment, try to participate actively in all the things with HR.
Regards,
Satish