Question

Which of the following statements about the FRBM (Fiscal Responsibility and Budget Management) framework is correct?

A It mandates the RBI to maintain the fiscal deficit ceiling.
B It requires the Centre to eliminate revenue deficit and reduce fiscal deficit on a glide path.
C It restricts states from borrowing from the open market.
D It sets monetary policy targets for RBI.
E It prohibits any supplementary grants during a financial year.
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