{"id":76381,"date":"2024-04-20T12:29:57","date_gmt":"2024-04-20T12:29:57","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=76381"},"modified":"2024-04-20T12:29:57","modified_gmt":"2024-04-20T12:29:57","slug":"the-fiscal-responsibility-and-budget-management-frbm-act-aims-to-ensure-3","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/the-fiscal-responsibility-and-budget-management-frbm-act-aims-to-ensure-3\/","title":{"rendered":"The Fiscal Responsibility and Budget Management (FRBM) Act aims to ensure:"},"content":{"rendered":"<p>\r\n    <!-- Check if it's an AMP page -->\r\n            <!-- Non-AMP version -->\r\n        <div class=\"mcq-container\" data-quiz-id=\"quizState_6a9765213c6e3\">\r\n                                            <div class=\"option\" data-option-key=\"option1\" data-is-correct=\"false\">\r\n                    Responsible budgeting                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option2\" data-is-correct=\"false\">\r\n                    Reduction of fiscal deficit                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option3\" data-is-correct=\"false\">\r\n                    Transparency in fiscal policies                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option4\" data-is-correct=\"true\">\r\n                    All of the above                <\/div>\r\n                            \r\n            <!-- Feedback messages for non-AMP -->\r\n            <div class=\"feedback\" data-feedback=\"wrong\">Answer is Right!<\/div>\r\n            <div class=\"feedback\" data-feedback=\"right\">Answer is Wrong!<\/div>\r\n        <\/div>\r\n\r\n        <script>\r\n        document.addEventListener('DOMContentLoaded', function () {\r\n            var containers = document.querySelectorAll('.mcq-container');\r\n\r\n            containers.forEach(function(container) {\r\n                var options = container.querySelectorAll('.option');\r\n                var feedbackSelect = container.querySelector('[data-feedback=\"select\"]');\r\n                var feedbackWrong = container.querySelector('[data-feedback=\"wrong\"]');\r\n                var feedbackRight = container.querySelector('[data-feedback=\"right\"]');\r\n\r\n                options.forEach(function(option) {\r\n                    option.addEventListener('click', function() {\r\n                        var selectedOption = option.getAttribute('data-option-key');\r\n                        var isCorrect = option.getAttribute('data-is-correct') === 'true';\r\n\r\n                        \/\/ Remove previous selections\r\n                        options.forEach(function(opt) {\r\n                            opt.classList.remove('correct', 'incorrect');\r\n                        });\r\n\r\n                        \/\/ Add the correct\/incorrect class\r\n                        if (isCorrect) {\r\n                            option.classList.add('correct');\r\n                            feedbackRight.hidden = false;\r\n                            feedbackWrong.hidden = true;\r\n                        } else {\r\n                            option.classList.add('incorrect');\r\n                            feedbackRight.hidden = true;\r\n                            feedbackWrong.hidden = false;\r\n                        }\r\n\r\n                        \/\/ Hide select feedback\r\n                        feedbackSelect.hidden = true;\r\n                    });\r\n                });\r\n            });\r\n        });\r\n        <\/script>\r\n    \r\n    <!--more--><\/p>\n<p>The correct answer is: <strong>d) All of the above<\/strong><\/p>\n<p>The Fiscal Responsibility and Budget Management (FRBM) Act, 2003 is an Act of the Parliament of India enacted to ensure responsible fiscal management in the country. The Act aims to achieve the following objectives:<\/p>\n<ul>\n<li>To reduce the fiscal deficit to a sustainable level.<\/li>\n<li>To eliminate revenue deficit.<\/li>\n<li>To maintain a stable and predictable fiscal policy.<\/li>\n<li>To improve transparency and accountability in fiscal management.<\/li>\n<li>To promote fiscal discipline and responsibility.<\/li>\n<\/ul>\n<p>The <div class=\"telegram-channel-container\">\r\n        <a href=\"https:\/\/t.me\/pscnotes2025\" target=\"_blank\" class=\"telegram-channel-button\">\r\n            <span class=\"telegram-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 496 512\">\r\n                    <path fill=\"white\" d=\"M248,8C111,8,0,119,0,256s111,248,248,248s248-111,248-248S385,8,248,8z M362,177L320,367c-3,14-10,18-20,14l-56-41l-27,26 c-3,3-5,5-10,5l4-63L323,196c5-5-1-7-8-3l-98,62l-42-13c-9-3-10-9,2-14l162-63C351,160,365,164,362,177z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Join Our Telegram Channel\r\n        <\/a>\r\n    <\/div> Act has been successful in achieving some of its objectives, such as reducing the fiscal deficit and revenue deficit. However, it has not been able to achieve all of its objectives, such as maintaining a stable and predictable fiscal policy.<\/p>\n<p>The FRBM Act has been amended several times since its enactment. The most recent amendment was in 2017. The amendment has made some changes to the Act, such as increasing the fiscal deficit target and allowing for more flexibility in fiscal management.<\/p>\n<p>The FRBM Act is an important piece of legislation that has helped to improve fiscal management in India. However, there is still room for improvement. The government needs to continue to implement the Act effectively and make necessary changes to ensure that it achieves its objectives.<\/p>\n<p>Here is a brief explanation of each option:<\/p>\n<ul>\n<li><strong>Responsible budgeting:<\/strong> This means that the government should spend <div class=\"youtube-subscribe-container\">\r\n        <a href=\"https:\/\/www.youtube.com\/channel\/UCNHT8lW-JmLC68rjBfZhdkg?sub_confirmation=1\" target=\"_blank\" class=\"youtube-subscribe-button\">\r\n            <span class=\"youtube-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 576 512\">\r\n                    <path d=\"M549.7 124.1c-6.3-23.7-24.8-42.3-48.3-48.6C458.8 64 288 64 288 64S117.2 64 74.6 75.5c-23.5 6.3-42 24.9-48.3 48.6-11.4 42.9-11.4 132.3-11.4 132.3s0 89.4 11.4 132.3c6.3 23.7 24.8 41.5 48.3 47.8C117.2 448 288 448 288 448s170.8 0 213.4-11.5c23.5-6.3 42-24.2 48.3-47.8 11.4-42.9 11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Subscribe on YouTube\r\n        <\/a>\r\n    <\/div> within its means and not borrow excessively.<\/li>\n<li><strong>Reduction of fiscal deficit:<\/strong> The fiscal deficit is the difference between the government&#8217;s revenue and expenditure. A high fiscal deficit means that the government is borrowing more money than it is earning. This can lead to problems such as inflation and debt.<\/li>\n<li><strong>Transparency in fiscal policies:<\/strong> This means that the government should be open and transparent about its fiscal policies. This includes publishing information about its revenue, expenditure, and debt.<\/li>\n<\/ul>\n<p>All of these objectives are important for ensuring responsible fiscal management. By achieving these objectives, the government can help to promote economic growth and stability.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Join Our Telegram Channel Subscribe on YouTube<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[974],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Fiscal Responsibility and Budget Management (FRBM) Act aims to ensure:<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/the-fiscal-responsibility-and-budget-management-frbm-act-aims-to-ensure-3\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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