Along with the Budget, the Finance Minister also places other documents before the Parliament which include ‘The Macro Economic Framework Statement’. The aforesaid document is presented because this is mandated by
Explanation
The Fiscal Responsibility and Budget Management (FRBM) Act, 2003 mandates greater transparency, inter-generational fiscal equity, and discipline in the government’s financial management.
– Under Section 3 of the FRBM Act, the Central Government is legally obligated to lay three mandatory fiscal policy statements before both Houses of Parliament alongside the annual budget:
– 1. The Medium-Term Fiscal Policy Statement
– 2. The Fiscal Policy Strategy Statement
– 3. The Macro-Economic Framework Statement
– While the Annual Financial Statement itself is mandated by Article 112 of the Constitution, the Macro-Economic Framework Statement is required specifically by statute under the FRBM Act.
Hence, the correct option is Option D.