The correct answer is: d) All of the above.
The Assam Fiscal Responsibility and Budget Management (FRBM) Act aims to ensure fiscal discipline, limit government borrowing, and maintain a balanced budget.
Fiscal discipline is the practice of managing a government’s finances in a responsible way. This means that the government should not spend more money than it takes in, and it should not borrow too much money. The FRBM Act aims to achieve fiscal discipline by setting limits on government spending and borrowing.
Government borrowing is the practice of a government taking out loans to finance its activities. This can be a useful tool for governments to use in the short term, but it can also lead to problems in the long term if the government borrows too much money. The FRBM Act aims to limit government borrowing by setting limits on the amount of money that the government can borrow each year.
A balanced budget is a budget in which the government’s revenues are equal to its expenditures. This is a desirable goal for governments to strive for, as it means that the government is not spending more money than it takes in. The FRBM Act aims to promote a balanced budget by setting targets for the government’s revenues and expenditures.
The FRBM Act is an important piece of legislation that aims to improve the management of Assam’s finances. The Act has been successful in achieving some of its goals, such as reducing government borrowing and improving the state’s fiscal position. However, there is still room for improvement, and the government should continue to work to implement the Act effectively.