The Group also took into account the international best practices available in the area as well as the recommendations of the various committees on fiscal transparency and on the issues related to voluntary disclosure of information by the State Governments.
Various dimensions of the fiscal legislative framework, such as, the choice of targets, the road map, independent evaluation criteria, prioritisation of capital expenditure, treatment of contingent liabilities including guarantees and computation of pension liabilities were deliberated upon to arrive at a consensus.