FRBM Act , 2003: Background, Provisions and Significance for UPSC
Introduction India’s experience as a developing economy has shown that high fiscal deficits and rising public debt can fuel inflation, push up interest rates, and hinder long-term growth. To avoid fiscal mismanagement and ensure macroeconomic stability, a rules-based framework for fiscal discipline became essential. The Constitution, under Article 112, mandates that the Annual Financial Statement […]
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