The Fiscal Responsibility and Budget Management (FRBM) Act aims to:

Reduce fiscal deficit
Increase public spending
Control borrowing
All of the above

The correct answer is: d) All of the above.

The Fiscal Responsibility and Budget Management (FRBM) Act is an Act of the Parliament of India enacted in 2003 with the objective of establishing a framework for fiscal discipline and transparency in fiscal management. The Act aims to reduce fiscal deficit, control borrowing, and increase public spending in a sustainable manner.

The FRBM Act sets out a medium-term fiscal framework for the central government, which includes targets for fiscal deficit, revenue deficit, and public debt. The Act also requires the government to publish a medium-term fiscal policy statement and an annual budget that are consistent with the medium-term fiscal framework.

The FRBM Act has been successful in reducing fiscal deficit and controlling borrowing. However, it has not been successful in increasing public spending in a sustainable manner. This is because the government has often resorted to fiscal stimulus measures to revive the economy, which has led to an increase in fiscal deficit.

The FRBM Act is a landmark legislation that has helped to improve fiscal discipline in India. However, there is still scope for improvement in the implementation of the Act. The government needs to focus on increasing public spending in a sustainable manner, while also maintaining fiscal discipline.

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