FRBM 2.0

Fiscal prudence is about the quality of expenditure, not just quantity

Business Standard Editorial Comment 

A committee to review the Fiscal Responsibility and Budget Management Act (FRBM) has suggested steep targets for achieving fiscal rectitude by the Central and state governments. A key recommendation is to move towards using public debt-to-GDP (gross domestic product) as the main variable to map fiscal performance. The committee, after running several tests and looking at the global norm, has settled at a 60 per cent debt-to-GDP ratio as the anchor, to be achieved by 2022-23. At present, India’s debt-to-GDP ratio is around 68 per cent, which makes India one of the most indebted ...

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FRBM 2.0

Fiscal prudence is about the quality of expenditure, not just quantity

Fiscal prudence is about the quality of expenditure, not just quantity A committee to review the Fiscal Responsibility and Budget Management Act (FRBM) has suggested steep targets for achieving fiscal rectitude by the Central and state governments. A key recommendation is to move towards using public debt-to-GDP (gross domestic product) as the main variable to map fiscal performance. The committee, after running several tests and looking at the global norm, has settled at a 60 per cent debt-to-GDP ratio as the anchor, to be achieved by 2022-23. At present, India’s debt-to-GDP ratio is around 68 per cent, which makes India one of the most indebted ... image
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