Parliament approved the long-awaited Fiscal Responsibility and Budget Management (FRBM) Bill after Finance Minister Jaswant Singh promised that there would be no lowering of developmental expenditure. Singh also announced that finance ministry will come out with a quarterly review of the economy before the end of the monsoon session of Parliament. The Bill, which was passed by Lok Sabha in the Budget session, was approved by Rajya Sabha by voice vote. It will now go to President for his assent.