This Act may be called the Fiscal Responsibility and Budget Management Act, .. G.S.R. (E), dated 7th May, , see Gazette of India. The FRBM Act is a fiscal sector legislation enacted by the government of India in , aiming to ensure fiscal discipline for the centre by. Responsibility and Budget Management (FRBM) Act. While the . FRBM Act, the fiscal deficit was to be reduced steadily to 3% of gross.
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Fiscal Responsibility and Budget Management Act, 2003
Why is it always discussed around the Budget? The targets were put off several times. The government believed the targets were too rigid.
The committee recommended that the government should target a fiscal deficit of 3 per cent of the GDP in years up to March 31, cut it to 2. The Comptroller and Auditor General of India had pulled up the government for deferring the actt which it said should have been done through amending the Act.
What is FRBM Act? Why is FRBM Act important in Budget? | The Economic Times
In Budgetthe government is not likely to meet its fiscal deficit target of 3. Read more on FRBM act.
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Fiscal Responsibility and Budget Management Act, – Wikipedia
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