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Economy

Fiscal Responsibility and Budget Management (FRBM) Act 2003, explained

Updated : January 27, 2020 11:41 AM IST

For the current fiscal year, the fiscal deficit is expected to breach the budgeted target by 20-30 bps, coming in at 3.5 percent-3.6 percent of GDP weighed down by lower direct, indirect (including GST) collections.
Aimed primarily to bring a check on revenue deficit, the act strives to improve the overall management of public finance by controlling unchecked borrowings and imparting financial discipline.
Fiscal Responsibility and Budget Management (FRBM) Act 2003, explained

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