[amp_mcq option1=”Promote fiscal discipline” option2=”Reduce revenue deficit” option3=”Control public borrowing” option4=”All of the above” correct=”option4″]<\/p>\n
The correct answer is: d) All of the above.<\/p>\n
The Odisha Fiscal Responsibility and Budget Management (FRBM) Act was enacted in 2005 with the objective of promoting fiscal discipline, reducing revenue deficit, and controlling public borrowing. The Act sets out a medium-term fiscal framework for the state government and requires it to adhere to certain fiscal targets. These targets include a limit on the fiscal deficit, a limit on the revenue deficit, and a limit on the public debt.<\/p>\n
The FRBM Act has been successful in promoting fiscal discipline in Odisha. The state government has been able to reduce its fiscal deficit and revenue deficit, and it has also been able to control its public debt. As a result, the state’s finances have improved significantly in recent years.<\/p>\n
The FRBM Act has also had a positive impact on the state’s economy. The reduction in the fiscal deficit has led to a decrease in the state’s borrowing costs, which has made it easier for the government to invest in infrastructure and other development projects. The reduction in the revenue deficit has also led to an increase in the state’s revenue collection, which has helped to improve the state’s finances.<\/p>\n
Overall, the FRBM Act has been a success in Odisha. It has helped to promote fiscal discipline, reduce the state’s fiscal deficit and revenue deficit, and control its public debt. As a result, the state’s finances have improved significantly in recent years, and the economy has benefited.<\/p>\n
Here is a brief explanation of each option:<\/p>\n
[amp_mcq option1=”Promote fiscal discipline” option2=”Reduce revenue deficit” option3=”Control public borrowing” 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":[990],"tags":[],"class_list":["post-70826","post","type-post","status-publish","format-standard","hentry","category-odisha-gk-mcq","no-featured-image-padding"],"yoast_head":"\n