{"id":795,"date":"2024-03-05T15:05:42","date_gmt":"2024-03-05T15:05:42","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=795"},"modified":"2024-03-05T15:05:42","modified_gmt":"2024-03-05T15:05:42","slug":"fiscal-responsibility-and-budget-management-actwas-enacter-in-india-in-the-year","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/fiscal-responsibility-and-budget-management-actwas-enacter-in-india-in-the-year\/","title":{"rendered":"Fiscal responsibility and Budget Management Actwas enacter in India in the year"},"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_6a9880d654ba6\">\r\n                                            <div class=\"option\" data-option-key=\"option1\" data-is-correct=\"false\">\r\n                    2007                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option2\" data-is-correct=\"false\">\r\n                    2005                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option3\" data-is-correct=\"true\">\r\n                    2002                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option4\" data-is-correct=\"false\">\r\n                    2003                <\/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 (c). The Fiscal Responsibility and Budget Management Act (FRBM) was enacted in India in 2003. The FRBM Act is a legislation that aims to promote <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> fiscal discipline and transparency in the management of the government&#8217;s finances. The Act sets out a medium-term fiscal framework for the government, and it also establishes a Fiscal Responsibility Council (FRC) to monitor the government&#8217;s compliance with the Act. The FRBM Act has been successful in reducing the fiscal deficit and improving the government&#8217;s debt position. However, there are some challenges that need to be addressed in order to make the Act more effective. These challenges include the <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> need to improve the quality of public expenditure, the need to strengthen the FRC, and the need to improve coordination between the central government and the state governments.<\/p>\n<p>The other options are incorrect. Option (a) is incorrect because the FRBM Act was enacted in 2003, not 2007. Option (b) is incorrect because the FRBM Act was enacted in 2003, not 2005. Option (d) is incorrect because the FRBM Act was enacted in 2003, not 2002.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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":[17],"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>Fiscal responsibility and Budget Management Actwas enacter in India in the year<\/title>\n<meta name=\"description\" content=\"The other options are incorrect. Option (a) is incorrect because the FRBM Act was enacted in 2003, not 2007. Option (b) is incorrect because the FRBM Act was enacted in 2003, not 2005. Option (d) is incorrect because the FRBM Act was enacted in 2003, not 2002.\" \/>\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\/fiscal-responsibility-and-budget-management-actwas-enacter-in-india-in-the-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fiscal responsibility and Budget Management Actwas enacter in India in the year\" \/>\n<meta property=\"og:description\" content=\"The other options are incorrect. Option (a) is incorrect because the FRBM Act was enacted in 2003, not 2007. Option (b) is incorrect because the FRBM Act was enacted in 2003, not 2005. Option (d) is incorrect because the FRBM Act was enacted in 2003, not 2002.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/exam.pscnotes.com\/mcq\/fiscal-responsibility-and-budget-management-actwas-enacter-in-india-in-the-year\/\" \/>\n<meta property=\"og:site_name\" content=\"MCQ and Quiz for Exams\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-05T15:05:42+00:00\" \/>\n<meta name=\"author\" content=\"rawan239\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"rawan239\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Fiscal responsibility and Budget Management Actwas enacter in India in the year","description":"The other options are incorrect. Option (a) is incorrect because the FRBM Act was enacted in 2003, not 2007. Option (b) is incorrect because the FRBM Act was enacted in 2003, not 2005. Option (d) is incorrect because the FRBM Act was enacted in 2003, not 2002.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/exam.pscnotes.com\/mcq\/fiscal-responsibility-and-budget-management-actwas-enacter-in-india-in-the-year\/","og_locale":"en_US","og_type":"article","og_title":"Fiscal responsibility and Budget Management Actwas enacter in India in the year","og_description":"The other options are incorrect. Option (a) is incorrect because the FRBM Act was enacted in 2003, not 2007. Option (b) is incorrect because the FRBM Act was enacted in 2003, not 2005. Option (d) is incorrect because the FRBM Act was enacted in 2003, not 2002.","og_url":"https:\/\/exam.pscnotes.com\/mcq\/fiscal-responsibility-and-budget-management-actwas-enacter-in-india-in-the-year\/","og_site_name":"MCQ and Quiz for Exams","article_published_time":"2024-03-05T15:05:42+00:00","author":"rawan239","twitter_card":"summary_large_image","twitter_misc":{"Written by":"rawan239","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/exam.pscnotes.com\/mcq\/fiscal-responsibility-and-budget-management-actwas-enacter-in-india-in-the-year\/","url":"https:\/\/exam.pscnotes.com\/mcq\/fiscal-responsibility-and-budget-management-actwas-enacter-in-india-in-the-year\/","name":"Fiscal responsibility and Budget Management Actwas enacter in India in the year","isPartOf":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/#website"},"datePublished":"2024-03-05T15:05:42+00:00","dateModified":"2024-03-05T15:05:42+00:00","author":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/5807dafeb27d2ec82344d6cbd6c3d209"},"description":"The other options are incorrect. Option (a) is incorrect because the FRBM Act was enacted in 2003, not 2007. Option (b) is incorrect because the FRBM Act was enacted in 2003, not 2005. Option (d) is incorrect because the FRBM Act was enacted in 2003, not 2002.","breadcrumb":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/fiscal-responsibility-and-budget-management-actwas-enacter-in-india-in-the-year\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/exam.pscnotes.com\/mcq\/fiscal-responsibility-and-budget-management-actwas-enacter-in-india-in-the-year\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/exam.pscnotes.com\/mcq\/fiscal-responsibility-and-budget-management-actwas-enacter-in-india-in-the-year\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/exam.pscnotes.com\/mcq\/"},{"@type":"ListItem","position":2,"name":"mcq","item":"https:\/\/exam.pscnotes.com\/mcq\/category\/mcq\/"},{"@type":"ListItem","position":3,"name":"Current Affairs","item":"https:\/\/exam.pscnotes.com\/mcq\/category\/mcq\/current-affairs\/"},{"@type":"ListItem","position":4,"name":"Fiscal responsibility and Budget Management Actwas enacter in India in the year"}]},{"@type":"WebSite","@id":"https:\/\/exam.pscnotes.com\/mcq\/#website","url":"https:\/\/exam.pscnotes.com\/mcq\/","name":"MCQ and Quiz for Exams","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/exam.pscnotes.com\/mcq\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/5807dafeb27d2ec82344d6cbd6c3d209","name":"rawan239","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/d97f17072bfa490596c8f78363955d55?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/d97f17072bfa490596c8f78363955d55?s=96&d=mm&r=g","caption":"rawan239"},"sameAs":["https:\/\/exam.pscnotes.com"],"url":"https:\/\/exam.pscnotes.com\/mcq\/author\/rawan239\/"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/posts\/795"}],"collection":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/comments?post=795"}],"version-history":[{"count":0,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/posts\/795\/revisions"}],"wp:attachment":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/media?parent=795"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/categories?post=795"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/tags?post=795"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}