Section 3(4) in The Fiscal Responsibility And Budget Management Act, 2003
(4)The Fiscal Policy Strategy Statement shall, inter alia, contain—(a)the policies of the Central Government for the ensuing financial year relating to taxation, expenditure, market borrowings and other liabilities, lending and investments, pricing of administered goods and services, securities and description of other activities such as underwriting and guarantees which have potential budgetary implications;(b)the strategic priorities of the Central Government for the ensuing financial year in the fiscal area;(c)the key fiscal measures and rationale for any major deviation in fiscal measures pertaining to taxation, subsidy, expenditure, administered pricing and borrowings;(d)an evaluation as to how the current policies of the Central Government are in conformity with the fiscal management principles set out in section 4 and the objectives set out in the Medium-term Fiscal Policy Statement.
