Fiscal Responsibility and Budget Managament - A Review

  • 2007
  • Siba Shankar Mohanty and Ram Gati Singh

The Indian Parliament, in August 2003, passed the Fiscal Responsibility and Budget Management (FRBM) Act, which imposes stringent fiscal discipline on the central government in its overall fiscal and macroeconomic management operations. This primer analyses the primary objectives of the Act, its practical implications, its actual impact on the state policy objectives and the development expenditure of the government.

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