Page 2 - Latest Updates on FRBM Act
Budget 2020 was disappointing for lacking vision, says Ashima Goyal
However, the finance minister has achieved a "balancing act" through her moves, Goyal said
 "Budget 2020 was disappointing for lacking vision, says Ashima Goyal")
FRBM Act not breached in budget, committed to reducing fiscal deficit: FM
The Centre had earlier said it was committed to reduce the fiscal deficit to 3 per cent of GDP by 2020-21 and eliminate the primary deficit as per the FRBM Act.
 "FRBM Act not breached in budget, committed to reducing fiscal deficit: FM")
As the govt's debt rises, will it need another fiscal escape clause soon?
Understanding the circumstances under which the finance minister chose to use the escape clause under the FRBM Act will be a useful exercise
 "As the govt's debt rises, will it need another fiscal escape clause soon?")
India Ratings pegs Centre's fiscal deficit at 3.6% of GDP ahead of Budget
In its outlook for FY21, it projected the deficit to be 3.4 per cent in the next year against 3 per cent given in the papers presented under the Fiscal Responsibility and Budget Management (FRBM)
 "India Ratings pegs Centre's fiscal deficit at 3.6% of GDP ahead of Budget")
GDP to grow by 5.5% in FY21 but downside risks persists: India Ratings
The government has announced a slew of measures recently to prop-up the economy, but Ind-Ra believes they will come to aid only in the medium term
 "GDP to grow by 5.5% in FY21 but downside risks persists: India Ratings")
Indian economy needs govt spending even if fiscal deficit widens: Official
The government should invoke the escape clause under the FRBM Act but stay within the prescribed 0.5 per cent wiggle room allowed in an extraordinary year under the guidelines, said the official
 "Indian economy needs govt spending even if fiscal deficit widens: Official")
Fiscal deficit at 3%: A sensible target despite questions about its origin
The number wasn't imported from the Maastricht Treaty, but is a synthesis of the experiences of various countries within and outside the accord
 "Fiscal deficit at 3%: A sensible target despite questions about its origin")
Fiscal deficit may slip to 3.5-3.8% in FY20; govt set to miss 3.3% target
The FRBM Act, after its amendment in 2018, allows a fiscal deficit slippage of not more than 0.5% for any given year, provided there are justifications
 "Fiscal deficit may slip to 3.5-3.8% in FY20; govt set to miss 3.3% target")
Imbalances in the fiscal deficit debate
While criticising the fiscal deficit target in the FRBM Act, the commentariat ignores the fact that the legislation also stipulated a stiffer revenue deficit target
 "Imbalances in the fiscal deficit debate")
Missing perspectives, variables
There are two major lacunae in the report of the panel reviewing the FRBM Act
Why FRBM failed
Fiscal responsibility legislation that does not constrain the Budget process is irrelevant
 "Why FRBM failed")
Enforcing fiscal discipline
A council with only advisory powers will be ineffective
FRBM 2.0
Fiscal prudence is about the quality of expenditure, not just quantity
Centre will have to put its house in order (on finances): N K Singh
The finance ministry released the report of an experts committee that reviewed the FRBM Act
 "Centre will have to put its house in order (on finances): N K Singh")
FRBM panel studying GDP and tax numbers to submit report soon
Committee is examining the need and feasibility of having a fiscal deficit range
 "FRBM panel studying GDP and tax numbers to submit report soon")
