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Last Updated : Apr 20, 2020 07:21 PM IST | Source:

Business Insight | Explained: The Fiscal Responsibility and Budget Management (FRBM) Act

In this episode of Business Insight, find out what is the FRBM Act and why states are seeking flexibility under the act?

The Fiscal Responsibility and Budget Management legislation or the FRBM Act was enacted in August 2003. The aim of the act is to set targets for the government to achieve fiscal stability, to provide the Reserve Bank of India (RBI) with the flexibility to deal with inflation, to improve the management of public funds, to strengthen fiscal prudence and to reduce fiscal deficits.

But why are states seeking flexibility under FRBM and how does a relaxation of the FRBM work? To find out these answers, watch this episode of Business Insight.

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First Published on Apr 20, 2020 06:57 pm
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