The Review of Compliance to Orissa FRBM Act for the fiscal year 2014-15
- Pratap Ranjan Jena
- May 2016
- National Institite of Public Finance and Policy (NIPFP)
- India
The Odisha FRBM Act, 2005 provides for an independent review/monitoring of compliance of the implementation of the Act through an amendment in 2012. This feature was introduced in the Act after the recommendations of the 13th Finance Commission in this regard. The purpose of this independent review is to ensure compliance of the provisions of the Act. This is considered a desirable feature of the FRBM Act designed to improve the credibility and transparency of the fiscal management of the Government. An independent review has remained as an important element of public financial management requirements for effective fiscal responsibility legislation. The Act provides an institutional process to assess the fiscal management of the State Government keeping in view the statutory fiscal targets and fiscal management principles enshrined in the FRBM Act. The State Government entrusted the responsibility of reviewing the compliance of the Act to the National Institute of Public Finance and Policy (NIPFP), New Delhi. This report is a result of this responsibility.
