The Fiscal Responsibility and Budget Management

The Fiscal Responsibility and Budget Management Act, 2003 (FRBM) was enacted by the Parliament of India to institutionalise financial discipline, reduce India’s fiscal deficit, improve macroeconomic management and the overall management of the public funds by moving towards a balanced budget. The main purpose was to eliminate revenue deficit. In the presentation Indian and international history behind introducing FRBM Act and some of its provisions has been analysed. 
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