CAG Report on off-Budget Financing
A Comptroller and Auditor General (CAG) report on Compliance of the Fiscal Responsibility and Budget Management (FRBM) Act, 2003 for fiscal 2016-17, tabled in Parliament on January 8, claimed that the government could have miscalculated its adherence to 3.5 per cent fiscal deficit and 2.1 per cent revenue deficit targets.
Off-budget Financing
Why the Government Resorted to this
The government resorted to market borrowings (off-budget financing) for revenue as well as capital expenditure, after it exceeded expenses from the FRBM set limits of 70 per cent of budgeted expense, by mid-year 2016-17.
Where it was used
In terms of revenue spending, off-budget financing ....
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