Fiscal Responsibility and Budget Management Act : SHORT TITLE, EXTENT AND COMMENCEMENT Indian Bare Acts :

Fiscal Responsibility and Budget Management Act,2003

Act No : 39

Section : SHORT TITLE, EXTENT AND COMMENCEMENT

FISCAL RESPONSIBILITY AND BUDGET MANAGEMENT ACT, 2003

39 of 2003
August 26, 2003

An Act to provide for the responsibility of the Central Government to ensure inter – generational equity in fiscal management and long-term macro-economic stability by achieving sufficient revenue surplus and removing fiscal impediments in the effective conduct of monetary policy and prudential debt management consistent with fiscal sustainability through limits on the Central Government borrowings, debt and deficits, greater transparency in fiscal operations of the Central Government and conducting fiscal policy in a medium-term framework and for matters connected therewith or incidental thereto Be it enacted by Parliament in the Fifty fourth Year of the Republic of India as follows:—

SECTION 01: SHORT TITLE, EXTENT AND COMMENCEMENT

(1) This Act may be called theFiscal Responsibility and Budget Management Act, 2003-.

(2) It extends to the whole of India.

(3) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint in this behalf.