[amp_mcq option1=”FRBM Act” option2=”Fiscal Consolidation Act” option3=”Public Finance Act” option4=”Budget Management Act” correct=”option1″]<\/p>\n
The correct answer is: A) FRBM Act.<\/p>\n
The Fiscal Responsibility and Budget Management Act (FRBM Act) is an Act of the Parliament of India enacted in 2003. The Act provides a framework for fiscal responsibility and budget management in India. The Act aims to ensure that the government’s fiscal deficit and public debt are kept under control. The Act also aims to improve the transparency and accountability of the government’s fiscal management.<\/p>\n
The FRBM Act was enacted in response to the fiscal crisis that India faced in the early 2000s. The crisis was caused by a combination of factors, including a large fiscal deficit, a high level of public debt, and a slowdown in economic growth. The FRBM Act was designed to address these problems and to put India on a path of fiscal sustainability.<\/p>\n
The FRBM Act has been successful in achieving some of its objectives. The fiscal deficit and public debt have been brought under control, and economic growth has been revived. However, the Act has also faced some challenges. One challenge has been the implementation of the Act’s provisions. Another challenge has been the political will to implement the Act’s provisions.<\/p>\n
Despite these challenges, the FRBM Act has been a positive step in improving India’s fiscal management. The Act has helped to put India on a path of fiscal sustainability, and it has improved the transparency and accountability of the government’s fiscal management.<\/p>\n
The other options are incorrect because they are not legislations that provide a framework for fiscal responsibility in Madhya Pradesh.<\/p>\n","protected":false},"excerpt":{"rendered":"
[amp_mcq option1=”FRBM Act” option2=”Fiscal Consolidation Act” option3=”Public Finance Act” option4=”Budget Management Act” correct=”option1″]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[984],"tags":[],"class_list":["post-63126","post","type-post","status-publish","format-standard","hentry","category-madhya-pradesh-state-gk-mcq","no-featured-image-padding"],"yoast_head":"\n