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 is mandated by

Long standing parliamentary convention

Article 112 and Article 110(1) of the Constitution of India

Article 113 of the Constitution of India

Provisions of the Fiscal Responsibility and Budget Management Act, 2003

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UPSC Prelims

2020 • 04 Oct, 2020 • Paper-1

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 is mandated by

Correct Answer

Provisions of the Fiscal Responsibility and Budget Management Act, 2003

Constitutional Provisions Context: While Article 112 mandates the presentation of the Annual Financial Statement (Budget), it does not explicitly mention the 'M......

💡 Analysis & Explanation

Constitutional Provisions Context ▼

While Article 112 mandates the presentation of the Annual Financial Statement (Budget), it does not explicitly mention the 'Macro Economic Framework Statement'.

Legislative Mandate ▼

The presentation of specific macroeconomic planning documents was institutionalized to ensure fiscal discipline and transparency. This was legally enforced by the Fiscal Responsibility and Budget Management (FRBM) Act passed in 2003.

Required Documents under FRBM ▼

Section 3 of the FRBM Act dictates that the government must present three key statements to Parliament alongside the budget: the Macro-Economic Framework Statement, the Medium-Term Fiscal Policy Statement, and the Fiscal Policy Strategy Statement.

Conclusion ▼

The compulsion to present this specific document derives directly from the statutory requirements of the FRBM Act, 2003.

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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 is mandated by