Question
Consider the following statements about Fiscal
Responsibility and Budget Management (FRBM) Act : I. The FRBM Act strengthens financial discipline and fiscal prudence II. The committee under the chairmanship of NK Singh was set up to review the FRBM Act. III. FRBM Bill was introduced in India by the then Finance Minister of India, Pranab Mukherjee. Which of the statements given above is/are not correct?Solution
The Fiscal Responsibility and Budget Management (FRBM) Act was enacted in 2003 which set targets for the government to reduce fiscal deficits and strengthen financial discipline and fiscal prudence. Hence, statement 1 is correct. The N.K. Singh panel to review India’s fiscal discipline rules has recommended a debt-to-GDP ratio of 38.7% for the central government, 20% for the state governments together and a fiscal deficit of 2.5% of GDP (Gross Domestic Product), both by financial year 2022-23. The Fiscal Responsibility and Budget Management Bill (FRBM Bill) was introduced in India by the then Finance Minister of India, Mr.Yashwant Sinha.
Which tennis player was recently selected for the Tennis Hall of Fame?
Karsondas Mulji and Dadoba Pandurang were associated with ________, which worked against evils like caste system and encouraged widow remarriage.
Who among the following was a companion of freedom fighter Rani Chennamma of Kittur and continued the fight against the British after the Rani's captur...
How often is the Net Asset Value (NAV) of a mutual fund updated?
Which of the following sites of Indus Valley Civilization is located in Punjab (India)?
Which of the following is one of the features of capital goods?Â
The Jawaharlal Nehru Port is situated in which of the following cities?
Who has won the singles title of the Indian Wells Masters?
Which of the statements relating to the Grievance Redressal Committee under the Industrial Disputes Act, 1947 is not correct?
Which of the following occupies less memory when saving an MS-Word file?
Relevant for Exams:
