Along with the Budget, the Finance Minister also places other documents before the Parliament which include “The Macro Economic Framework Statement”. The aforesaid document is presented because this is mandated by
Detailed Explanation:
Answer: Option 4 — Provisions of the Fiscal Responsibility and Budget Management Act, 2003
The Macro Economic Framework Statement is mandated to be presented before Parliament by the Fiscal Responsibility and Budget Management (FRBM) Act, 2003. This Act establishes a legal framework requiring the government to lay three key policy statements before Parliament each financial year: the Medium Term Fiscal Policy Statement, the Fiscal Policy Strategy Statement, and the Macroeconomic Framework Statement. These statements ensure transparency in fiscal operations, promote inter-generational equity in fiscal management, and support long-run macroeconomic stability and better coordination between fiscal and monetary policies.
Question 4 of 5 Fiscal Policy
Practice PYQ questions from this topic across all years
Which among the following steps is most likely to be taken at the time of an economic...
Consider the following statements The Fiscal Responsibility and Budget Management...