The three policy statements presented with the budget are mandated by which Act?
AFinance Act 1994
BFRBM Act 2003
CGST Act 2017
DRBI Act 1934
Answer & Solution
Correct answer: B. FRBM Act 2003
1. They cover medium-term fiscal policy, strategy and macro framework.
2. The Fiscal Responsibility and Budget Management Act, 2003 mandates them.
3. It sets three-year rolling targets.
_Source: syllabus Introductory Macroeconomics, Chapter 5, Government Budget and the Economy._
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