UPSC Civil Services 2020 Prelims General Studies Paper I

The FRBM Act instructs the government to make an assessment of growth prospects for the economy with regards to specific underlying assumptions. Every year, a macro-economic framework statement is presented before Parliament at the time of Union Budget presentation. This is under Section 3(5) of the Fiscal Responsibility and Budget Management (FRBM) Act, 2003.

The statement contains an overview of the economy. This includes an assessment regarding the GDP growth rate, fiscal balance of the central government and the external sector balance of the economy.

Hence, the correct option is D. .