The finance ministry has to now find an alternative way to release its quarterly review of the trends in the government?s expenditure and revenue with the sine die adjournment of Parliament on Monday.
The review is mandated under the Fiscal Responsibility and Budget Management Act, 2003, and is basically stocktaking of the government?s finances and deficit targets. It is significant as it is tabled in Parliament and is a kind of report card of the government and provides a comprehensive picture of the economy.
The FRBM does not have any provision for the release of the review when Parliament is not in session.
Government sources are unsure when the review will be tabled with some saying it was likely that the report would now be tabled in the winter session and could be clubbed with the government?s mid-term review of the economy.
?The government cannot announce this in a press conference as it will go against the convention,? a government official said.
Traditionally, the review is tabled in Parliament in all its three sessions?the monsoon session, the winter session and then once again with the Union Budget in February-March.