FRBM Current Affairs, GK & News
On May 11, 2020, the Government of India released Rs 6,195 crores to 14 states. This is the second equated monthly installment of Post Devolution Revenue Deficit. Highlights The grant allocated to the states will act as additional source of income to the states. The grant was recommended by the 15th Finance Commission. The Central ..
Month: Current Affairs - May, 2020
Category: Economy & Banking Current Affairs
On April 24, 2020, the Finance Commission has advised the state governments to use the clauses of FRBM (Fiscal Responsibility) act in order to raise additional resources to fight against COVID-19. Centre and State FRBM The states have their own FRBM act. The main similarities between the centre and state FRBM is that the limit ..
Category: India Nation & States Current Affairs
The Union Cabinet has approved the policy guidelines to permit financially sound State Government entities to borrow directly from bilateral ODA (Official development Assistance) partners for the purpose of implementing vital infrastructure projects. The approval is subject to fulfilment of certain conditions and all repayments of loans and interests to the funding agencies. As a ..
The Fiscal Responsibility and Budget Management (FRBM) Committee has submitted its 4 volume report on changes in FRBM Act, 2013 to the Union Finance Minister Arun Jaitley. The 5 member committee was headed by N.K. Singh, former Revenue and Expenditure Secretary and former MP. Its member included RBI Governor Urjit Patel, Chief Economic Advisor Arvind ..
The Union Government has constituted a five member committee to comprehensively review and give recommendations on the Fiscal Responsibility and Budget Management (FRBM) roadmap for the future. Composition: The committee will be headed by Former Revenue Secretary and Rajya Sabha MP, NK Singh. Its members are former Finance and Revenue Secretary Sumit Bose, Chief Economic Adviser ..
Month: Current Affairs - May, 2016