The Fiscal Responsibility and Budget Management (FRBM) Act aimed for1. Eliminating revenue deficit and reducing fiscal deficit2. To introduce a more equitable and manageable distribution of the countrys debts over theyearsQ. Which of the statements given above is/ are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?

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Q. Which of the statements given above is/ are correct?

a)
1 only
b)
2 only
c)
Both 1 and 2
d)
Neither 1 nor 2

Correct answer is option 'C'. Can you explain this answer?

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The Fiscal Responsibility and Budget Management (FRBM) Act aimed for1....

FRBM Act had the objective of ensuring prudence in fiscal management by eliminating revenuedeficit, reducing fiscal deficit, establishing improved debt management and improvingtransparency in a medium-term framework with quantitative targets to be adhered by the statewith regard to deficit measures and debt management. The act was also expected to givenecessary flexibility to Reserve Bank of India (RBI) for managing inflation in India.

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The Fiscal Responsibility and Budget Management (FRBM) Act aimed for1. Eliminating revenue deficit and reducing fiscal deficit2. To introduce a more equitable and manageable distribution of the countrys debts over theyearsQ. Which of the statements given above is/ are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?

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