Medium-term ex­pen­di­ture plan un­veiled

India Business Journal - - NEWS ROUND-UP -

The Medi­umTerm Ex­pen­di­ture Frame­work State­ment (MTEF) was laid in Par­lia­ment last month. The MTEF State­ment sets forth a three-year rolling tar­get for ex­pen­di­ture in­di­ca­tors with spec­i­fi­ca­tion of un­der­ly­ing as­sump­tions and risks in­volved. The MTEF is es­sen­tially a ver­ti­cal ex­pan­sion of the ag­gre­gates of the ex­pen­di­ture pro­jec­tions in the fis­cal frame­work pre­sented along with the An­nual Fi­nan­cial State­ment and De­mands for Grants. The MTEF pro­vides a medium-term per­spec­tive to the fis­cal man­age­ment and

fur­thers the gov­ern­ment's com­mit­ment to fis­cal con­sol­i­da­tion.

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