 "fiscal deficit")
The government is in favour of setting up a council to monitor fiscal announcements, provide forecasts and analysis, and recommend deviations under certain circumstances.
The Fiscal Responsibility and Budget Management Committee, in a report to Finance Minister Arun Jaitley before Budget 2017-18, suggested setting up such a panel. The report was made public this month and the government has sought feedback from the public till May 5. The FRBM committee, headed by former MP N K Singh, also recommended a fiscal deficit target of 2.5 per cent of the gross domestic product, revenue deficit of 0.8 per cent and a
