N.K. Singh panel has recently submitted a report on revising the Fiscal Responsibility and Budget Management (FRBM) Act. Why was the panel constituted? How its recommendations would be important?

N.K. Singh panel has recently submitted a report on revising the Fiscal Responsibility and Budget Management (FRBM) Act. Why was the panel constituted? How its recommendations would be important? (GS 3)

एन.के. सिंह पैनल ने हाल ही में राजकोषीय उत्तरदायित्व एवं बजट प्रबंधन (एफआरबीएम) अधिनियम में संशोधन पर एक रिपोर्ट प्रस्तुत की है। पैनल का गठन क्यों किया गया है? इसकी सिफारिशें कैसे महत्वपूर्ण है?