The Fiscal Responsibility and Budget Management Act, of 2003, was enacted by the Indian government to institutionalise financial discipline, reduce India’s fiscal deficit, improve macroeconomic management and the overall management of public funds by moving towards a balanced budget, and strengthen fiscal prudence. The Act’s long-term objective is for India to achieve fiscal stability and … Continue reading The FRBM Act: FISCAL RESPONSIBILITY AND BUDGET MANAGEMENT ACT, 2003