Time for forbearance, not rigid adherence: N K Singh on FRBM

The Commission is also considering how flexibility can be provided without jeopardising the progress on fiscal consolidation achieved over the years.

IN THE backdrop of the impact of Covid-19 on the economy, strict adherence to the FRBM (Fiscal Responsibility and Budget Management) law may not be feasible and this is the time for forbearance on the issue, said N K Singh, Chairman, Fifteenth Finance Commission. He said the Commission is considering the need to bring in flexibility on that front without really “impairing” the “hard-won battle” on fiscal consolidation.

The Commission is also debating…