Fiscal Responsibility Act of 2023

The Fiscal Responsibility Act of 2023 is a legislation aimed at managing government finances responsibly. It sets rules to control budget deficits, ensure sustainable public debt levels, and promote effective spending and revenue collection. The act seeks to balance the government's financial obligations with economic stability, encouraging transparency and accountability. By establishing clear fiscal guidelines, it aims to prevent excessive borrowing and help maintain overall economic health, ultimately fostering confidence among citizens and investors in the nation's fiscal management.