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Consider the following statements :
1. The Fiscal Responsibility and Budget Management (FRBM) Review Committee Report has recommended a debt to GDP ratio of 60% for the general (combined government by 2023, comprising 40% for the Central Governments and 20% for the State Governments.
2. The Central Government has domestic liabilities of 21% of GDP as compared to that of 49% of GDP of the State Governments.
3. As per the Constitution of India, it is mandatory for a State to take the Central Government’s consent for raising any loan if the former owes any outstanding liabilities to the latter.
Q. Which of the statements given above is/are correct?
1. The Fiscal Responsibility and Budget Management (FRBM) Review Committee Report has recommended a debt to GDP ratio of 60% for the general (combined government by 2023, comprising 40% for the Central Governments and 20% for the State Governments.
2. The Central Government has domestic liabilities of 21% of GDP as compared to that of 49% of GDP of the State Governments.
3. As per the Constitution of India, it is mandatory for a State to take the Central Government’s consent for raising any loan if the former owes any outstanding liabilities to the latter.
Q. Which of the statements given above is/are correct?
- a)1 only
- b)2 and 3 only
- c)1 and 3 only
- d)1,2 and 3
Correct answer is option 'C'. Can you explain this answer?
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Verified Answer
Consider the following statements :1. The Fiscal Responsibility and Bu...
1. The FRBM Review Committee (Chairperson: Mr. N.K. Singh) submitted its report in January 2017. The Report was made public in April 2017. The Committee suggested using debt as the primary target for fiscal policy. A debt to GDP ratio of 60% should be targeted with a 40% limit for the centre and 20% limit for the states. The targeted debt to GDP ratio should be achieved by 2023. Hence, statement 1 is correct.
2. The Central Government has domestic liabilities of 46.1% of GDP (2016-17) and as a per cent of GDP, States’ liabilities increased to 23.2 per cent at end-March 2016. Hence, statement 2 is not correct.
3. The Constitution of India empowers State Governments to borrow only from domestic sources (Article 293(1)). Further, as long as a State has outstanding borrowings from the Central Government, it is required to obtain Central Government's prior approval before incurring debt (Article 293 (3)). Hence, statement 3 is correct.
2. The Central Government has domestic liabilities of 46.1% of GDP (2016-17) and as a per cent of GDP, States’ liabilities increased to 23.2 per cent at end-March 2016. Hence, statement 2 is not correct.
3. The Constitution of India empowers State Governments to borrow only from domestic sources (Article 293(1)). Further, as long as a State has outstanding borrowings from the Central Government, it is required to obtain Central Government's prior approval before incurring debt (Article 293 (3)). Hence, statement 3 is correct.
Most Upvoted Answer
Consider the following statements :1. The Fiscal Responsibility and Bu...
's permission to borrow money.
All the above statements are true.
All the above statements are true.
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Consider the following statements :1. The Fiscal Responsibility and Budget Management (FRBM) Review Committee Report has recommended a debt to GDP ratio of 60% for the general (combined government by 2023, comprising 40% for the Central Governments and 20% for the State Governments.2. The Central Government has domestic liabilities of 21% of GDP as compared to that of 49% of GDP of the State Governments.3. As per the Constitution of India, it is mandatory for a State to take the Central Government’s consent for raising any loan if the former owes any outstanding liabilities to the latter.Q.Which of the statements given above is/are correct?a)1 onlyb)2 and 3 onlyc)1 and 3 onlyd)1,2 and 3Correct answer is option 'C'. Can you explain this answer?
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Consider the following statements :1. The Fiscal Responsibility and Budget Management (FRBM) Review Committee Report has recommended a debt to GDP ratio of 60% for the general (combined government by 2023, comprising 40% for the Central Governments and 20% for the State Governments.2. The Central Government has domestic liabilities of 21% of GDP as compared to that of 49% of GDP of the State Governments.3. As per the Constitution of India, it is mandatory for a State to take the Central Government’s consent for raising any loan if the former owes any outstanding liabilities to the latter.Q.Which of the statements given above is/are correct?a)1 onlyb)2 and 3 onlyc)1 and 3 onlyd)1,2 and 3Correct answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements :1. The Fiscal Responsibility and Budget Management (FRBM) Review Committee Report has recommended a debt to GDP ratio of 60% for the general (combined government by 2023, comprising 40% for the Central Governments and 20% for the State Governments.2. The Central Government has domestic liabilities of 21% of GDP as compared to that of 49% of GDP of the State Governments.3. As per the Constitution of India, it is mandatory for a State to take the Central Government’s consent for raising any loan if the former owes any outstanding liabilities to the latter.Q.Which of the statements given above is/are correct?a)1 onlyb)2 and 3 onlyc)1 and 3 onlyd)1,2 and 3Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements :1. The Fiscal Responsibility and Budget Management (FRBM) Review Committee Report has recommended a debt to GDP ratio of 60% for the general (combined government by 2023, comprising 40% for the Central Governments and 20% for the State Governments.2. The Central Government has domestic liabilities of 21% of GDP as compared to that of 49% of GDP of the State Governments.3. As per the Constitution of India, it is mandatory for a State to take the Central Government’s consent for raising any loan if the former owes any outstanding liabilities to the latter.Q.Which of the statements given above is/are correct?a)1 onlyb)2 and 3 onlyc)1 and 3 onlyd)1,2 and 3Correct answer is option 'C'. Can you explain this answer?.
Consider the following statements :1. The Fiscal Responsibility and Budget Management (FRBM) Review Committee Report has recommended a debt to GDP ratio of 60% for the general (combined government by 2023, comprising 40% for the Central Governments and 20% for the State Governments.2. The Central Government has domestic liabilities of 21% of GDP as compared to that of 49% of GDP of the State Governments.3. As per the Constitution of India, it is mandatory for a State to take the Central Government’s consent for raising any loan if the former owes any outstanding liabilities to the latter.Q.Which of the statements given above is/are correct?a)1 onlyb)2 and 3 onlyc)1 and 3 onlyd)1,2 and 3Correct answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements :1. The Fiscal Responsibility and Budget Management (FRBM) Review Committee Report has recommended a debt to GDP ratio of 60% for the general (combined government by 2023, comprising 40% for the Central Governments and 20% for the State Governments.2. The Central Government has domestic liabilities of 21% of GDP as compared to that of 49% of GDP of the State Governments.3. As per the Constitution of India, it is mandatory for a State to take the Central Government’s consent for raising any loan if the former owes any outstanding liabilities to the latter.Q.Which of the statements given above is/are correct?a)1 onlyb)2 and 3 onlyc)1 and 3 onlyd)1,2 and 3Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements :1. The Fiscal Responsibility and Budget Management (FRBM) Review Committee Report has recommended a debt to GDP ratio of 60% for the general (combined government by 2023, comprising 40% for the Central Governments and 20% for the State Governments.2. The Central Government has domestic liabilities of 21% of GDP as compared to that of 49% of GDP of the State Governments.3. As per the Constitution of India, it is mandatory for a State to take the Central Government’s consent for raising any loan if the former owes any outstanding liabilities to the latter.Q.Which of the statements given above is/are correct?a)1 onlyb)2 and 3 onlyc)1 and 3 onlyd)1,2 and 3Correct answer is option 'C'. Can you explain this answer?.
Solutions for Consider the following statements :1. The Fiscal Responsibility and Budget Management (FRBM) Review Committee Report has recommended a debt to GDP ratio of 60% for the general (combined government by 2023, comprising 40% for the Central Governments and 20% for the State Governments.2. The Central Government has domestic liabilities of 21% of GDP as compared to that of 49% of GDP of the State Governments.3. As per the Constitution of India, it is mandatory for a State to take the Central Government’s consent for raising any loan if the former owes any outstanding liabilities to the latter.Q.Which of the statements given above is/are correct?a)1 onlyb)2 and 3 onlyc)1 and 3 onlyd)1,2 and 3Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC.
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Consider the following statements :1. The Fiscal Responsibility and Budget Management (FRBM) Review Committee Report has recommended a debt to GDP ratio of 60% for the general (combined government by 2023, comprising 40% for the Central Governments and 20% for the State Governments.2. The Central Government has domestic liabilities of 21% of GDP as compared to that of 49% of GDP of the State Governments.3. As per the Constitution of India, it is mandatory for a State to take the Central Government’s consent for raising any loan if the former owes any outstanding liabilities to the latter.Q.Which of the statements given above is/are correct?a)1 onlyb)2 and 3 onlyc)1 and 3 onlyd)1,2 and 3Correct answer is option 'C'. Can you explain this answer?, a detailed solution for Consider the following statements :1. The Fiscal Responsibility and Budget Management (FRBM) Review Committee Report has recommended a debt to GDP ratio of 60% for the general (combined government by 2023, comprising 40% for the Central Governments and 20% for the State Governments.2. The Central Government has domestic liabilities of 21% of GDP as compared to that of 49% of GDP of the State Governments.3. As per the Constitution of India, it is mandatory for a State to take the Central Government’s consent for raising any loan if the former owes any outstanding liabilities to the latter.Q.Which of the statements given above is/are correct?a)1 onlyb)2 and 3 onlyc)1 and 3 onlyd)1,2 and 3Correct answer is option 'C'. Can you explain this answer? has been provided alongside types of Consider the following statements :1. The Fiscal Responsibility and Budget Management (FRBM) Review Committee Report has recommended a debt to GDP ratio of 60% for the general (combined government by 2023, comprising 40% for the Central Governments and 20% for the State Governments.2. The Central Government has domestic liabilities of 21% of GDP as compared to that of 49% of GDP of the State Governments.3. As per the Constitution of India, it is mandatory for a State to take the Central Government’s consent for raising any loan if the former owes any outstanding liabilities to the latter.Q.Which of the statements given above is/are correct?a)1 onlyb)2 and 3 onlyc)1 and 3 onlyd)1,2 and 3Correct answer is option 'C'. Can you explain this answer? theory, EduRev gives you an
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