FRBM Full Form In English
FRBM stands for Fiscal Responsibility and Budget Management. It is a law enacted by the Government of India to ensure fiscal discipline, reduce fiscal deficit, and improve macroeconomic management. The FRBM Act requires the government to lay down a medium-term fiscal policy, set targets for reduction of fiscal deficit, and maintain transparency in financial operations.
FRBM Full Form In Hindi
FRBM का पूरा नाम है Fiscal Responsibility and Budget Management Act। यह भारत सरकार द्वारा बनाया गया एक कानून है, जिसका उद्देश्य वित्तीय अनुशासन सुनिश्चित करना, राजकोषीय घाटे को कम करना और आर्थिक प्रबंधन में सुधार लाना है। FRBM अधिनियम के तहत सरकार को एक मध्यम अवधि की वित्तीय नीति तैयार करनी होती है, राजकोषीय घाटे को कम करने के लिए लक्ष्य निर्धारित करने होते हैं, और वित्तीय लेन-देन में पारदर्शिता बनाए रखनी होती है।
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Frequently Asked Questions
What is the full form of FRBM?
Fiscal Responsibility and Budget Management.
Why was the FRBM Act implemented?
To reduce fiscal deficit, maintain fiscal discipline, and improve financial transparency.
When was the FRBM Act enacted?
It was enacted in 2003 by the Government of India.
Does FRBM apply to both central and state governments?
Yes, similar frameworks are encouraged for state governments, though specific rules may vary.
What is the main objective of the FRBM Act?
The main objective is to ensure responsible fiscal management and reduce fiscal deficit.
Conclusion
The FRBM Act is a crucial step toward responsible governance and fiscal discipline in India. It ensures that government finances are managed prudently, deficits are controlled, and transparency is maintained. By adhering to FRBM principles, India aims to achieve sustainable economic growth and long-term stability.