Govt may turn down FRBM panel's proposal on fiscal council

Fiscal council was suggested by FRBM panel as part of its recommendations for a medium-term fiscal road map till FY2023

The government is likely to dump a proposal for setting up a fiscal council, which is aimed at monitoring the government’s fiscal announcements for any given year and providing its forecasts and analysis for the same.

Additionally, any new Bill to institutionalise a future fiscal road map, or an amendment to the existing Fiscal Responsibility and Budget Management (FRBM) Bill, may happen in the next Budget session of Parliament, Business Standard has learnt.

The fiscal council was suggested by the FRBM panel as part of its recommendations for a medium-term fiscal road map till FY23. The panel was headed by former Member