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The Fiscal Responsibility and Budget Management Act, 2003 aims to ensure fiscal discipline in India by setting targets for fiscal deficits, revenue deficits, and government debt. It mandates the Central Government to present fiscal policy statements to Parliament annually, outlining strategies and targets for fiscal management. Recent amendments set a target to reduce the fiscal deficit to below 4.5% of GDP by 2025-26.

Author
xidelab256
Language
EN

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