Para 18.3.6.1 — CAM

18.3.6 Preparation of Medium-Term Expenditure Framework (MTEF) 18.3.6.1 Section 3 of the Fiscal Responsibility and Budget Management (FRBM) Act, 2003 requires the Government to lay the Medium-Term Expenditure Framework (MTEF) Statement in both Houses of Parliament. The MTEF Statement sets a three-year rolling target for the expenditure indicators with specification of underlying assumptions and risks involved. MTEF gives a medium-term perspective to the Central Government finances and specifies a path for Government’s fiscal consolidation.