PUNJAB GOVERNMENT COMMITTED TO ABIDE BY FRBM ACT
CHANDIGARH JUNE 26:Punjab Chief Minister Mr. Parkash Singh Badal today said that the State Annual Budget 2012-13 has been meticulously prepared after due deliberations and care and there was no scope of any fallacy on the count of fudge statistics. Replying to an issue raised by the Leader of Opposition, Mr. Sunil Jakhar in this regard during the debate on the budget in the Punjab Vidhan Sabha, Mr. Badal reiterated that the entire Cabinet, bureaucracy and above all, he was responsible for the authenticity and accuracy of the budget since our Government fully believed in the tenets of transparency and accountability and there was no question of any exaggeration of facts and figures in the budget. The Chief Minister further said that it was obligatory on the part of the Punjab Government to keep it fiscal deficit at 3.5% under the Punjab Fiscal Responsibility and Budget Management (FRBM)Act, 2003, whereas the fiscal deficit for 2011-12 was pegged at 3.88%. Likewise, even the Government of India was unable to keep fiscal deficit within the prescribed limit at 3% and it has also jumped to 5.75%. He said the State Government would make all possible Efforts committed to abide by the financial discipline inconformity with the FRBM
