Q.3 What are the objectives of the FRBM act?

Ans: Fiscal Responsibility and Budget Management Act, 2003 (FRBM Act) aims to ensure a balance between Government revenue and government expenditure.

The objectives of the act are:

  1. Fiscal discipline.
  2. Efficient management of expenditure, revenue and debt.
  3. Macroeconomic stability.
  4. Better coordination between fiscal and monetary policy.
  5. Transparency in the fiscal operation of the Government.
  6. It set deficit targets for Union and States to control their deficits.
Keywords: Fiscal discipline, Efficient management , Transparency, deficit targets ,  revenue .  expenditure.
Source : RBSE 12th Class: Economics: Page number 144 : Chapter 23 Ye Chapter sabko padhna hai ….Very Important 
Extra Info : Fiscal discipline is defined as the ability of a government to sustain smooth monetary operation and long-standing fiscal condition. Fiscal consolidation describes government policy intended to reduce deficits and the accumulation of debt.

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