Government Budgets

FRBM panel report in December; may suggest new deficit goalposts

  1. A government appointed committee to devise a roadmap for fiscal consolidation is likely to submit its report by next month
  2. The NK Singh-led committee to review the FRBM roadmap was set up by the Finance Ministry in May
  3. The 5-member committee is likely to call for a new law to replace the Fiscal Responsibility and Budget Management Act, 2003
  4. It will also suggest new goalposts for the Centre and States’ fiscal deficits

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