Can the FRBM Act REALLY Save India's Economy?
Автор: UPSC Memory Meetings
Загружено: 2025-03-27
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Описание:
#FRBMAct #IndiaEconomy #FiscalPolicy #EconomicReforms #GovernmentSpending #PublicDebt #IndianFinance #BudgetDeficit #Macroeconomics #EconomicsExplained
In this video, we'll be discussing the significance of the Fiscal Responsibility and Budget Management (FRBM) Act in India. Enacted in 2003, this legislation aims to ensure fiscal discipline and prudence in the country's financial management. The FRBM Act is crucial for maintaining macroeconomic stability, reducing fiscal deficits, and promoting sustainable economic growth. We'll delve into the reasons why India needs this act, exploring its provisions and the benefits it offers. For instance, Article 292, which deals with the contingency fund, plays a vital role in managing unforeseen expenses. By understanding the FRBM Act, we can better appreciate the importance of responsible fiscal management in India. So, let's dive in and explore why the FRBM Act is essential for India's economic prosperity.
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