{"id":34362,"date":"2024-03-14T09:26:58","date_gmt":"2024-03-14T09:26:58","guid":{"rendered":"https:\/\/edukemy.com\/blog\/?p=34362"},"modified":"2024-03-14T09:27:00","modified_gmt":"2024-03-14T09:27:00","slug":"fiscal-responsibility-and-budget-management-frbm-act-upsc-economy-notes","status":"publish","type":"post","link":"https:\/\/edukemy.com\/blog\/fiscal-responsibility-and-budget-management-frbm-act-upsc-economy-notes\/","title":{"rendered":"Fiscal Responsibility and Budget Management (FRBM) Act – UPSC Economy Notes"},"content":{"rendered":"\n
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The Fiscal Responsibility and Budget Management (FRBM) Act stands as a cornerstone of fiscal policy in many countries, aimed at ensuring prudent financial management and sustainable economic growth. Enacted to address concerns regarding fiscal deficits and public debt, the FRBM Act provides a framework for the government to manage its finances responsibly. Typically, it sets targets for reducing fiscal deficits, controlling government borrowings, and managing expenditures efficiently. By imposing discipline on fiscal policy, the FRBM Act aims to promote macroeconomic stability, encourage investor confidence, and create an environment conducive to long-term economic prosperity. This legislation often serves as a critical tool for governments to navigate through economic challenges while maintaining fiscal discipline and accountability to their citizens.<\/p>\n\n\n\n

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