Section 1 of FRBM Act : Section 1: Short Title, Extent And Commencement

FRBM Act

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Explanation using Example

Imagine the government of India wants to ensure prudent fiscal management and macroeconomic stability across the country. To achieve this, they enact the Fiscal Responsibility and Budget Management Act in 2003. This law, referred to as FRBM Act, 2003, applies to the entire nation, meaning it affects both the central and stat...

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