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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 mandated by (2020)
- a)Long-standing parliamentary convention
- b)Article 112 and Article 110(1) of the constitution of India
- c)Article 114 of the Constitution of India
- d)Provisions of the Fiscal Responsibility and Budget Management Act, 2003
Correct answer is option 'D'. Can you explain this answer?
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Along with the budget, the Finance Minister also places other documen...
Explanation:
The Macro-Economic Framework Statement is a document presented by the Finance Minister along with the budget. This document is mandated by the provisions of the Fiscal Responsibility and Budget Management Act, 2003.
The following are the reasons why the Macro-Economic Framework Statement is presented:
1. Mandate of the Fiscal Responsibility and Budget Management Act, 2003: The Fiscal Responsibility and Budget Management Act, 2003 mandates the presentation of the Macro-Economic Framework Statement along with the budget. This act was enacted to ensure fiscal discipline, transparency and accountability in the management of public finances.
2. To provide an overview of the macroeconomic scenario: The Macro-Economic Framework Statement provides an overview of the macroeconomic scenario of the country. It presents the macroeconomic projections, fiscal policy strategy, and financial sector reforms envisaged in the budget.
3. To assess the impact of policies and programmes: The Macro-Economic Framework Statement assesses the impact of policies and programmes on the macroeconomic scenario. It also identifies the risks and challenges that may affect the achievement of the macroeconomic targets.
4. To facilitate informed decision-making: The Macro-Economic Framework Statement provides information to the Members of Parliament and the public about the macroeconomic scenario and the government's fiscal policy strategy. This facilitates informed decision-making on the budget.
In conclusion, the presentation of the Macro-Economic Framework Statement is mandated by the Fiscal Responsibility and Budget Management Act, 2003. This document provides an overview of the macroeconomic scenario, assesses the impact of policies and programmes, identifies risks and challenges, and facilitates informed decision-making on the budget.
The Macro-Economic Framework Statement is a document presented by the Finance Minister along with the budget. This document is mandated by the provisions of the Fiscal Responsibility and Budget Management Act, 2003.
The following are the reasons why the Macro-Economic Framework Statement is presented:
1. Mandate of the Fiscal Responsibility and Budget Management Act, 2003: The Fiscal Responsibility and Budget Management Act, 2003 mandates the presentation of the Macro-Economic Framework Statement along with the budget. This act was enacted to ensure fiscal discipline, transparency and accountability in the management of public finances.
2. To provide an overview of the macroeconomic scenario: The Macro-Economic Framework Statement provides an overview of the macroeconomic scenario of the country. It presents the macroeconomic projections, fiscal policy strategy, and financial sector reforms envisaged in the budget.
3. To assess the impact of policies and programmes: The Macro-Economic Framework Statement assesses the impact of policies and programmes on the macroeconomic scenario. It also identifies the risks and challenges that may affect the achievement of the macroeconomic targets.
4. To facilitate informed decision-making: The Macro-Economic Framework Statement provides information to the Members of Parliament and the public about the macroeconomic scenario and the government's fiscal policy strategy. This facilitates informed decision-making on the budget.
In conclusion, the presentation of the Macro-Economic Framework Statement is mandated by the Fiscal Responsibility and Budget Management Act, 2003. This document provides an overview of the macroeconomic scenario, assesses the impact of policies and programmes, identifies risks and challenges, and facilitates informed decision-making on the budget.
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Along with the budget, the Finance Minister also places other documen...
The Macro-economic Framework Statement is a statement presented to the Parliament at the time of Union Budget under Section 3(5) of the Fiscal Responsibility and Budget Management Act, 2003. It contains an assessment of the growth prospects of the economy with specific underlying assumptions. It contains an assessment regarding the expected GDP growth rate, fiscal balance of the Central Government, and the external sector balance of the economy. The statement is submitted annually.
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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 mandated by (2020)a) Long-standing parliamentary conventionb) Article 112 and Article 110(1) of the constitution of Indiac) Article 114 of the Constitution of Indiad) Provisions of the Fiscal Responsibility and Budget Management Act, 2003Correct answer is option 'D'. Can you explain this answer?
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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 mandated by (2020)a) Long-standing parliamentary conventionb) Article 112 and Article 110(1) of the constitution of Indiac) Article 114 of the Constitution of Indiad) Provisions of the Fiscal Responsibility and Budget Management Act, 2003Correct answer is option 'D'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about 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 mandated by (2020)a) Long-standing parliamentary conventionb) Article 112 and Article 110(1) of the constitution of Indiac) Article 114 of the Constitution of Indiad) Provisions of the Fiscal Responsibility and Budget Management Act, 2003Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for 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 mandated by (2020)a) Long-standing parliamentary conventionb) Article 112 and Article 110(1) of the constitution of Indiac) Article 114 of the Constitution of Indiad) Provisions of the Fiscal Responsibility and Budget Management Act, 2003Correct answer is option 'D'. Can you explain this answer?.
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 mandated by (2020)a) Long-standing parliamentary conventionb) Article 112 and Article 110(1) of the constitution of Indiac) Article 114 of the Constitution of Indiad) Provisions of the Fiscal Responsibility and Budget Management Act, 2003Correct answer is option 'D'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about 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 mandated by (2020)a) Long-standing parliamentary conventionb) Article 112 and Article 110(1) of the constitution of Indiac) Article 114 of the Constitution of Indiad) Provisions of the Fiscal Responsibility and Budget Management Act, 2003Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for 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 mandated by (2020)a) Long-standing parliamentary conventionb) Article 112 and Article 110(1) of the constitution of Indiac) Article 114 of the Constitution of Indiad) Provisions of the Fiscal Responsibility and Budget Management Act, 2003Correct answer is option 'D'. Can you explain this answer?.
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