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

Question

CollectorBabu · Accepted Answer

Correct Answer: Provisions of the Fiscal Responsibility and Budget Management Act, 2003. The FRBM Act instructs the government to make an assessment of growth prospects for the economy with regards to specific underlying assumptions. Every year, a macro-economic framework statement is presented before Parliament at the time of Union Budget presentation. This is under Section 3(5) of the Fiscal Responsibility and Budget Management (FRBM) Act, 2003. The statement contains an overview of the economy. This includes an assessment regarding the GDP growth rate, fiscal balance of the central government and the external sector balance of the economy. Hence, the correct option is D. .

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

Contact Information

Services