Frbm Act

In India, 85 million people will be pushed into poverty as a result of the Covid19 pandemic

Govt to overhaul fiscal roadmap, may aim budget deficit at 4% of GDP by FY26

The fiscal deficit -- difference between Centre's expenditure and revenue - is expected to be in the range of 7-8 percent of GDP in 2020-21. From that, it may gradually come down to 4 percent of GDP by 2025-26. This means that the long-standing medium- term target of 3 percent of GDP, as mandated by the FRBM Act, no longer holds.

EXCLUSIVE | Centre's FY20-21 fiscal deficit likely to be around 7% of GDP

It should be remembered that the fiscal deficit will be a percentage of a lower nominal GDP than the Rs 225 lakh crore that the last budget had assumed for 2020-21. The target for the year, set before the pandemic, was 3.5% of nominal GDP

Through her public statements, FM Nirmala Sitharaman is preparing markets, rating agencies for an unprecedented budget

Finance Minister Nirmala Sitharaman seems to be preparing the markets for a budget with never before seen fiscal slippage and public spending outlay.

FRBM recommendations may find place in Budget

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.

FRBM panel studying GDP and tax numbers to submit report soon

A government panel, set up to review the working of FRBM Act, is looking into GDP estimates along with revenue numbers and is expected to submit its report soon.

Committee invites public comments on review of FRBM roadmap

Comments and suggestions have been sought from stakeholders and general public on the Fiscal Responsibility and Budget Management (FRBM) Act till June 30, the Finance Ministry said today.

FRBM panel holds 1st meeting; to consult state govts, experts

The committee, Singh said, will hold next meeting in the third week of June and thereafter meet continuously with a view to present its report to the government by the deadline of October 31.

FRBM review panel chief says will also look at state finances

The panel appointed by the central government to review the 12-year-old Fiscal Responsibility and Budget Management (FRBM) Act will likely go into the subject of central as well as state finances, its Chairman NK Singh says.

Moody's still positive on India, keeps rating intact

Talking about the possible review of the FRBM Act, Marie Diron, Senior Vice President, Moody's Investors Service, said the change of fiscal deficit targets will not have any immediate implications.

Govt sets up FRBM committee on fiscal deficit range

The government formed a five-member committee under former revenue secretary N K Singh to review the working of the 12-year old FRBM Act and examine the feasibility of a fiscal deficit range instead of a fixed target

Panel to look into FRBM Act, work on fiscal policy framework:CEA

The main job of the panel is to review how FRBM Act has worked out in last few years and if any changes are needed in it, CEA Arvind Subramanian told CNBC-TV18.

Range-bound fiscal targets can confuse markets, says Nomura

Adoption of a fiscal deficit target range before achieving the 3 percent goal will be considered as a "shallower path" in the fiscal consolidation process, Japanese brokerage Nomura said today.

Budget 2016: Aim to create ecosystem for electronic hardware mfg, says Adhia

Revenue Secretary Hasmukh Adhia also says the Finance Bill will lay retrospective tax resolution process into a law

Budget should not be kept secret anymore: Sinha

Now, this tradition needed to be broken, Sinha said. Once the DTC and GST were introduced, the entire Budget Speech would become irrelevant, he said. Sinha said that the practice should be that the Finance Minister should make some proposals in the Budget which should then be discussed in Parliament and then finalized at a later session.

Govt must step up divestment: NIPFP

The Budget speech is likely to highlight the govt‘s decision to give states a higher share of taxes to reset centre state relations. The govt says the move will help provide an economic lift to states, economists believe the centre will find itself constrained to spend big money to pump prime the economy. Sapna Das spoke with NIPFP Director.

Food, fertliser tough issues; FY16 Budget to be tight

According to CNBC-TV18‘s Sapna Das, the expenditure estimates are routinely put out by the finance ministry once a year. This is a mandate under the FRBM Act. However, the numbers pertaining to petroleum subsidy is revealing. On the other hand there is some kind of a pressure that is evident for fertiliser and food.

Why you shudn't be fooled by Chidu's Budget trick

The reason why Chidambaram is making a song-and-dance about the fiscal deficit and his red line is simple: it is intended to take our attention away from the revenue deficit, which is the real number to monitor.

No Poriborton!

The finance minister has through his staid Budget ensured the survival of UPA 2 for now. But at what economic cost?

Budget 2012: On expenditure reforms

The fiscal targets for Centre under the amendments to the FRBM Act are indicated in the Budget documents. Meanwhile, I would like to highlight two of its features that are steps in the direction of expenditure reforms.

Budget 2012: On FRBM act

The implementation of the Fiscal Responsibility and Budget Management Act, 2003 (FRBM Act) at Centre and the corresponding Acts at State level was the pivot in the successful consolidation of our fiscal balance prior to the global financial crisis of 2008.

Budget 2012: To make some amendments to FRBM act

Finance Minister in his Budget speech stated that FRBM implementation is back on track and there will be some amendments to FRBM act.