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Fiscal Policy Strategy Statement

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The Fiscal Policy Strategy Statement is a statement presented to the Parliament at the time of Union Budget Presentation under Section 3(4) of the Fiscal Responsibility and Budget Management Act, 2003, and it outlines the strategic priorities of Government in the fiscal area for the ensuing financial year relating to taxation, expenditure, lending and investments, administered pricing, borrowings and guarantees.

The Statement explains how the current policies are in conformity with sound fiscal management principles and gives the rationale for any major deviation in key fiscal measures.

In essence, it presents the strategy to be adopted by the Government in moving towards the FRBM targets.

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