Examine and enact a Fiscal Responsibility Act
“We will examine the possibility of enacting a Fiscal Responsibility Act.”
The verdict
The Fiscal Responsibility and Budget Management Act, 2003 was enacted in August 2003, within the term. Its rules were notified in July 2004, after the term ended.
Rule applied: Kept: achieved as promised, on time or within 6 months of the deadline → 10
Evidence timeline
- BudgetUndated· Ministry of Finance (Economic Survey 2004-05)supportsEconomic Survey 2004-05, Chapter 1: General Review ↗
“The current year 2004-05 is the first year when the Fiscal Responsibility and Budget Management (FRBM) Act, 2003 is in operation. With the notification of the Rules in July 2004...”
- BudgetUndated· Ministry of Finance (Economic Survey 2004-05)supportsEconomic Survey 2004-05, Chapter 2: Public Finance ↗
“The enactment of the FRBM Act... mandates the Central Government... to eliminate revenue deficit”
More economy promises from this manifesto
Raise GDP growth to the 7-8% bracket
“The growth target showed up once, in the final year, just before the bill came due.”
Control the fiscal and revenue deficits
Glass aadha bhara hai. Ya aadha khaali. Depends kaun puch raha hai.
Attract at least US$10 billion of foreign direct investment a year
“Ten billion a year was the target; the best year reached a little under half.”
Promise ID nda-ls-1999-003 · drafted 5 Oct 2026 by research-agent · JSON