The correct answer is: d) All of the above.
Fiscal discipline is the practice of managing government finances in a responsible way. It involves controlling spending, reducing reliance on debt, and improving tax collection efficiency. These efforts can help to ensure that the government has the resources it needs to provide essential services, while also avoiding excessive debt and inflation.
Controlling expenditure means ensuring that government spending is within the limits of its revenue. This can be done by setting realistic budgets, carefully reviewing spending proposals, and eliminating waste and inefficiency.
Reducing reliance on debt means borrowing less money to finance government operations. This can be done by raising taxes, cutting spending, or both. Reducing debt helps to keep interest payments low and frees up resources for other priorities.
Improving tax collection efficiency means collecting taxes more effectively and efficiently. This can be done by simplifying the tax code, improving tax administration, and cracking down on tax evasion. Improving tax collection helps to increase government revenue and reduce the deficit.
All of these efforts are important for improving fiscal discipline in Sikkim. By taking these steps, the government can ensure that it has the resources it needs to provide essential services, while also avoiding excessive debt and inflation.