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of <h1>Finance Act 2018 amends Fiscal Act 2003: Quarterly to Half-Yearly Reports, Monthly Accounts Statement, 'Prescribed Levels' Update.</h1> Section 215 of the Finance Act, 2018, amends Section 7 of the Fiscal Responsibility and Budget Management Act, 2003. The amendment changes the reporting frequency in sub-section (1) from 'every quarter' to 'on a half-yearly basis.' It introduces a new sub-section (1A), requiring the Central Government to prepare a monthly statement of its accounts. Additionally, in sub-section (2), the phrase 'pre-specified levels mentioned in the Fiscal Policy Strategy Statement and the rules made under this Act' is replaced with 'prescribed levels.'
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