Fiscal Responsibility and Budget Management Act (FRBM)

Tax Glossary Definition

Fiscal Responsibility and Budget Management Act (FRBM)

Fiscal Responsibility and Budget Management Act (FRBM) – A law enacted by the Government of India to promote fiscal discipline by controlling budget deficits, reducing excessive government borrowing, and ensuring long-term economic stability.

Example: It sets targets to limit fiscal deficit and keep government debt under control

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