Q. Along with the Budget, the Finance Minister also places other documents before the Parliament which include "The Macro Economic Framework Statement". The aforesaid document is presented because this is mandated by (UPSC Prelims 2020)
Answer: Provisions of the Fiscal Responsibility and Budget Management Act, 2003
Notes: The correct answer is [D] Provisions of the Fiscal Responsibility and Budget Management Act, 2003. The Macro-Economic Framework Statement is a statutory requirement aimed at ensuring transparency and fiscal discipline in the Indian economy.

• FRBM Act, 2003 (Statement D – Correct): Section 3 of the Fiscal Responsibility and Budget Management Act mandates the government to place three specific documents alongside the Annual Financial Statement (Budget):
  1. The Macro-Economic Framework Statement.
  2. The Medium-Term Fiscal Policy Statement.
  3. The Fiscal Policy Strategy Statement.
• Macro-Economic Framework Statement: This document provides an assessment of the growth prospects of the economy, including an overview of GDP growth, the fiscal balance of the Central Government, and the external sector balance.
• Article 112 (Statement B – Incorrect): This article refers to the "Annual Financial Statement" (the Budget itself), which is a statement of estimated receipts and expenditure. It does not mandate the Macro-Economic Framework Statement.
• Article 110 (Statement B – Incorrect): This defines "Money Bills."
• Article 113 (Statement C – Incorrect): This deals with the procedure in Parliament with respect to estimates (Demands for Grants).
• Parliamentary Convention (Statement A – Incorrect): While many budget traditions are conventional, this specific document is a legal obligation introduced to enforce fiscal responsibility and reduce the fiscal deficit.

The FRBM Act was a landmark piece of legislation designed to institutionalize financial discipline and reduce India's fiscal deficit to manageable levels.