Macro-economic Framework Statement
From Arthapedia
The Macro-economic Framework Statement is a statement presented to the Parliament at the time of Union Budget under Section 3(5) of the Fiscal Responsibility and Budget Management Act, 2003 and the rules made thereunder and contains an assessment of the growth prospects of the economy with specific underlying assumptions.
It contains an assessment regarding the expected GDP growth rate, fiscal balance of the Central Government and the external sector balance of the economy.
The statement is submitted annually.
