The FRBM (Fiscal Responsibility and Budget Management) panel is due to submit its report to the Finance Ministry on January 23. This report has recommendations for a new FRBM act.
The FRBM Act is a legislation which was enacted by the government in 2003. It looks ensure fiscal discipline by setting targets.
Sources tell CNBC-TV18 that the FRBM panel has recommended a new FRBM Act.
FRBM recommendations may find a place in the Budget.
The fiscal roadmap has already been communicated to government and the new FRBM Act may be introduced with the Finance Bill in the Budget.Watch video for more...
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