Along with the Budget, the Finance Minister also places other documents before the Parliament which

Question

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

Accepted Answer

Fiscal Responsibility and Budget Management (FRBM) became an Act in 2003. The objective of the Act is to ensure inter-generational equity in fiscal management, long run macroeconomic stability, better coordination between fiscal and monetary policy, and transparency in fiscal operation of the Government. It requires for the presentation of the following documents before the Parliament:Medium Term Expenditure Framework Statement (MTEF)Medium-Term Fiscal Policy StatementFiscal Policy Strategy StatementMacroeconomic Framework StatementSource Citation: Business Standard