[amp_mcq option1=”Fiscal discipline” option2=”Transparency” option3=”Long-term sustainability” option4=”All of the above” correct=”option4″]<\/p>\n
The correct answer is: d) All of the above<\/strong><\/p>\n The Fiscal Responsibility and Budget Management (FRBM) Act is an Act of the Parliament of India enacted in 2003. The Act aims to ensure fiscal discipline, transparency, and long-term sustainability in the management of the country’s finances.<\/p>\n The Act sets out a number of fiscal targets, including a limit on the fiscal deficit, a target for the revenue deficit, and a target for the gross fiscal deficit. The Act also requires the government to publish a medium-term fiscal policy statement and a fiscal responsibility report.<\/p>\n The FRBM Act has been successful in achieving its objectives of fiscal discipline and transparency. The fiscal deficit has been brought down from over 10% of GDP in 2003 to around 3% of GDP in recent years. The revenue deficit has also been brought down from over 4% of GDP in 2003 to around 1% of GDP in recent years.<\/p>\n The FRBM Act has also helped to improve the long-term sustainability of the country’s finances. The government has been able to reduce its debt-to-GDP ratio from over 80% in 2003 to around 60% in recent years.<\/p>\n The FRBM Act has been a landmark piece of legislation in the management of the country’s finances. It has helped to improve fiscal discipline, transparency, and long-term sustainability.<\/p>\n Here is a brief explanation of each option:<\/p>\n [amp_mcq option1=”Fiscal discipline” option2=”Transparency” option3=”Long-term sustainability” option4=”All of the above” correct=”option4″]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[988],"tags":[],"class_list":["post-65488","post","type-post","status-publish","format-standard","hentry","category-mizoram-gk-mcq","no-featured-image-padding"],"yoast_head":"\n\n