Updated By: LatestGKGS Desk
Union government cancel mid-year review publish bill before Apr 1
Union Government decided to not review mid-year economic review, two surveys conducted to know the trend of revenue and expenditure
Union Government has decided to not review the mid-year economic year which was earlier published in December.
It was decided by the top policymakers in the finance ministry and approved by the Finance Minister Arun Jaitley.
Two surveys will be conducted first on the eve of Budget and the secondly there will be Economic Survey on economic developments of the past year.
The trends in central revenue and expenditure will be published quarterly according to Fiscal Responsibility and Budget Management Act (FRBM).
Government decided to publish budget before April 1
The government will be publishing the budget to pass the Finance Bill and implementation of Taxes before April 1.
The survey has two parts, first it deals with trends and microeconomic environment of the mid-year and sets the tone for remaining half year, second part contains data and numbers.
Last mid-year report showed that government has lowered the forecast of GDP from 7% to 7.5%.
