<h1>FRBM Committee Recommends New Fiscal Framework for India Based on Global Trends and Best Practices.</h1> The Fiscal Responsibility and Budget Management (FRBM) Committee, led by a former Revenue and Expenditure Secretary, presented its report to the Union Finance Minister. The committee, formed in May 2016, included high-profile members such as the Reserve Bank of India's Governor and the Chief Economic Adviser. Tasked with reviewing the FRBM Act, the committee examined global economic trends and best practices to recommend a future fiscal framework for India. Their scope expanded to include views on recommendations from the Fourteenth Finance Commission and the Expenditure Management Commission. The committee engaged with various stakeholders and government bodies for comprehensive input.