APSC Prelims and Mains Notes, APSC Test Series
Fiscal Responsibility and Budget Management Act The FRBM Act 2003 in its amended form was passed by the government to bring fiscal discipline and to implement a prudent fiscal policy. High fiscal deficit was the one major macroeconomic problem faced by Indian economy around 2000. It was argued that high deficits lead to inflation, reduces … Read more
Role of Finance Ministry in Monetary and Fiscal Policy Fiscal role of ministry of finance The Ministry of Finance plays a very crucial role in development planning in India. It supervise the financial institution and is responsible for the overall financial management of the country. The Ministry of Finance is responsible for the … Read more
Fiscal role of ministry of finance The Ministry of Finance plays a very crucial role in development planning in India. It supervise the financial institution and is responsible for the overall financial management of the country. The Ministry of Finance is responsible for the fiscal administration of the country. It has three departments, Department … Read more
Fiscal consolidation means providing ways and means to strengthen the government finance and reduction in both deficits and accumulation of debt stock. It is critical as it provide macroeconomic stability. It can be achieve in simple terms by increasing the revenue and reducing the expenditure. The following are the ways through which FD … Read more
FRBM act was brought to bring fiscal discipline in the Indian fiscal milieu. But the objectives of FRBM have been shifted for various reasons in the past due to global reasons as well as the domestic reasons. Hence FRBM panel was set up to review the act. The recommendation are explained hereunder which are nonbinding … Read more