Section 3(1) in The Fiscal Responsibility And Budget Management Act, 2003
(1)The Central Government shall lay in each financial year before both Houses of Parliament the following statements of fiscal policy along with the annual financial statement and demands for grants except the Medium-term Expenditure Framework Statement, namely:—(a)the Medium-term Fiscal Policy Statement;(b)the Fiscal Policy Strategy Statement;(c)the Macro-economic Framework Statement;(d)the Medium-term Expenditure Framework Statement. (1A) The statements referred to in clauses (a) to (c) of sub-section (1) shall be followed up with the Medium-term Expenditure Framework Statement with detailed analysis of underlying assumptions.
