Bring Fiscal Discipline
The Fiscal Responsibility and Budget Management (FRBM) Bill, 2000 was introduced by Atal Bihari Vajpayee Government to provide a legal backing to fiscal discipline at both the centre and state level. Under this act, it was mandated that both states and centre would wipe out revenue deficit and cut fiscal deficit to 3% by 2008-09, thus brining much needed fiscal discipline in a period of 5 years.
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