FRBM Law

India needs medium-term targets

The Commission will wait for gross domestic product (GDP) data in the January-March and April-June quarters before finalising its reports to the government for 2021-22 to 2025-26

A 50-year National Renewal Fund of Rs 30 trillion or 15 per cent of GDP needs to be structured immediately

Extant FRBM legislation focusses on two operational targets, the fiscal deficit and revenue deficit

Led by former MP N K Singh, the committee will look at the working of the Act over past 12 year, suggest road ahead