Dip in Tax Revenue and Increased Subsidies hit Fiscal Balance Amendments Introduced to FRBM ACT

Last updated: 17 March 2012

The Union Finance Minister ShriPranab Mukherjeewhile presenting the Union Budget 2012-13 announced introduction of amendments to the Fiscal Responsibility and Budget Management Act, 2003 (FRBM Act). The two important features of this amendment in the direction of expenditure reforms are Effective Revenue Deficit and Medium Term Expenditure Framework. Effective Revenue Deficit is the difference between revenue deficit and grants for creation of capital assets. This will help in reducing cons
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Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

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