Ministry of Finance, India

The Ministry comprises of the five Departments namely:— • Department of Economic Affairs • Department of Expenditure • Department of Revenue • Department of Disinvestment • Department of Financial Services

All datasets: M
  • M
    • Medium Term Expenditure Framework, India
      August 2018
      Source: Ministry of Finance, India
      Uploaded by: Knoema
      Accessed On: 07 August, 2018
      Select Dataset
      Medium-term Expenditure Framework Statement laid before Parliament as required under the Fiscal Responsibility and Budget Management Act, 2003. Section 3 of the Fiscal Responsibility and Budget Management (FRBM) Act, 2003 require the Government to place three Statements in both Houses of Parliament. This section has been amended to require the Government to lay a fourth statement viz. the Medium Term Expenditure Framework (MTEF) in both Houses of Parliament, immediately following the session of the Parliament in which the budget has been presented. The MTEF is to set forth a three-year rolling target for the expenditure indicators with specification of underlying assumptions and risks involved. The MTEF is essentially expected to be a vertical expansion of the expenditure projections in the MTEF Statement. The objective of the MTEF is to provide closer integration between budget and the FRBM Statements. It also furthers the Government's commitment towards fiscal consolidation.