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States and FRBM
April 29 , 2020
1544 days
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- The Finance Commission has advised the state governments to use the clauses of FRBM (The Fiscal Responsibility and Budget Management) Act in order to raise additional resources to fight against COVID-19.
- The states have their own FRBM act.
- The limit of fiscal deficit for both central and state is 3% and the state governments can raise the deficit up to 50 basis points.
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