FBRM launches autonomous fiscal council

Q.  Which panel has proposed autonomous fiscal council under FM?
- Published on 17 Apr 17

a. FRBM
b. FDBM
c. FMBM
d. None of the above

ANSWER: FRBM
 
The committee report on the Fiscal Responsibility and Budget Management (FRBM) law’s recommendation for a new fiscal council to monitor implementation comes after studying the examples of 40 other countries, advanced and emerging.

The panel, whose report was made public, has proposed the Council as an autonomous body but under the finance ministry.

The proposal is part of its draft Debt Management and Fiscal Responsibility law, meant to replace the existing FRBM Act.

MF: Know More
  • Formed: 29 October 1946
  • Jurisdiction: Government of India
  • Headquarters: North Block, Cabinet Secretariat, Raisina Hill, New Delhi - 110 001
  • Cabinet minister: Arun Jaitley
  • Minister of state: Santosh Gangwar, Arjun Ram Meghwal
  • Key Programs: Pradhan Mantri Jan Dhan Yojana
  • Key Departments: Department of Economic Affairs.

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