Frbm

Illustration: Jayachandran/Mint

Modi government: The next two years

4 min read . 29 May 2017
For the financial year 2017-18, the govt could reduce its market borrowings by an order of magnitude of more than Rs1 trillion because it issued 10-year bonds to the small savings fund at a coupon of 9.5% per annum when the govt bond yield was around 7%. Photo: Mint

Select thoughts on the FRBM report

8 min read . 15 May 2017
The NK Singh committee to review India’s fiscal discipline rules has recommended enacting a new Debt and Fiscal Responsibility Act after repealing the existing Fiscal Responsibility and Budget Management (FRBM) Act, and creating a fiscal council. Photo: HT

What sort of new FRBM do we need

7 min read . 28 Apr 2017
A file photo of finance minister Arun Jaitley. The issue of the fiscal deficit target of 3% recommended by the committee for the next three years against 3.2% adopted by the government is at best a fine balancing act.