Naresh
- Functions of the council
The Functions of the council include ex ante evaluation of the fiscal implications of the budget proposals which includes evaluation of how real the forecasts are and their consistency with the fiscal rules and estimating the cost of various proposals made in the budget.
Naresh
- Finance Commission
The 14th Finance commission recommended that an independent Fiscal Council should be established through an amendment to the FRBM Act, by inserting a new Section mandating the establishment of an independent Fiscal Council to undertake en ante assessment of budget proposals and to ensure their consistency with fiscal policy and Rules.
insights Ias
- Do we need a fiscal council?
What is a fiscal council? Fiscal council are independent public institutions aimed at strengthening commitments to sustainable public finances through various functions, including public assessments of fiscal plans and performance, and the evaluation or provision of macroeconomic and budgetary forecasts.