image

MoF :: Medium-term Expenditure Framework Statement laid before Parliament as required under the Fiscal Responsibility and Budget Management Act, 2003

Section 3 of the Fiscal Responsibility and Budget Management (FRBM) Act, 2003 require the Government to place three Statements in both Houses of Parliament. This section has been amended to require the Government to lay a fourth statement viz. the Medium Term Expenditure Framework (MTEF) in both Houses of Parliament, immediately following the session of the Parliament in which the budget has been presented.

The MTEF is to set forth a three-year rolling target for the expenditure indicators with specification of underlying assumptions and risks involved. The MTEF is essentially expected to be a vertical expansion of the expenditure projections in the MTEF Statement. The objecive of the MTEF is to provide closer integration between budget and the FRBM Statements. It also furthers the Government™s comitment towards fiscal consolidation.

Document Attached for reference

Medium-term Expenditure Framework Statement

profile image

About eMinds Legal

eMinds Legal

eMinds Legal is a Corporate Law Firm based in Gurgaon, India specializing in Corporate Legal, Corporate Secretarial and Compliance. The Firm comprises of a team of Corporate Lawyers and Company Secretaries with in-depth subject matter knowledge and participative industry experience of over 15 years.

Leave a Reply

Your email address will not be published. Required fields are marked *

Corporate Law Referencer

Corporate Law Referencer

Corporate Law Referencer

India’s Leading Compliance Software

India’s Leading Compliance Software

Get A Demo Today !

Recent Articles

Recent Legal updates

Recent Gst Updates