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Which of the following statements on N.K SinghCommittee recommendations are correct?
1. Revenue deficit target of 0.8% by 2023.
2. Fiscal policy anchor should be public debt to GDP ratio.
3. Target of fiscal deficit of 3.5% by 2023.
Select the correct code
1. Revenue deficit target of 0.8% by 2023.
2. Fiscal policy anchor should be public debt to GDP ratio.
3. Target of fiscal deficit of 3.5% by 2023.
Select the correct code
- a)All correct
- b)1 and 2 only
- c)1 and 3 only
- d)2 and 3 only
Correct answer is option 'B'. Can you explain this answer?
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Most Upvoted Answer
Which of the following statements on N.K SinghCommittee recommendation...
The correct answer is option 'B', which means that statements 1 and 2 are correct, while statement 3 is incorrect. Let's analyze each statement individually to understand why.
1. Revenue deficit target of 0.8% by 2023:
The N.K. Singh Committee on Fiscal Responsibility and Budget Management (FRBM) has recommended a revenue deficit target of 0.8% by 2023. This means that the government aims to reduce its revenue deficit to 0.8% of the Gross Domestic Product (GDP) by 2023. Revenue deficit occurs when the government's total revenue falls short of its total expenditure, excluding borrowing. The committee has suggested this target to ensure fiscal discipline and sustainable growth. Therefore, statement 1 is correct.
2. Fiscal policy anchor should be public debt to GDP ratio:
The N.K. Singh Committee has recommended that the fiscal policy anchor should be the public debt to GDP ratio. The public debt to GDP ratio is a measure of the government's debt burden relative to the size of the economy. The committee believes that maintaining a sustainable level of public debt is crucial for fiscal stability and long-term growth. By making the public debt to GDP ratio the fiscal policy anchor, the committee aims to align fiscal policy decisions with debt sustainability considerations. Therefore, statement 2 is correct.
3. Target of fiscal deficit of 3.5% by 2023:
The third statement is incorrect. The N.K. Singh Committee has not recommended a target of fiscal deficit of 3.5% by 2023. Fiscal deficit is the difference between the government's total expenditure and its total revenue, including borrowing. While the committee has made various recommendations to improve fiscal discipline and consolidation, it has not specifically mentioned a target of 3.5% for fiscal deficit by 2023. Therefore, statement 3 is incorrect.
In conclusion, the correct statements regarding the N.K. Singh Committee recommendations are 1 and 2. The revenue deficit target of 0.8% by 2023 and the recommendation to make the public debt to GDP ratio the fiscal policy anchor are in line with the committee's recommendations. However, the target of fiscal deficit of 3.5% by 2023 is not mentioned in the committee's recommendations.
1. Revenue deficit target of 0.8% by 2023:
The N.K. Singh Committee on Fiscal Responsibility and Budget Management (FRBM) has recommended a revenue deficit target of 0.8% by 2023. This means that the government aims to reduce its revenue deficit to 0.8% of the Gross Domestic Product (GDP) by 2023. Revenue deficit occurs when the government's total revenue falls short of its total expenditure, excluding borrowing. The committee has suggested this target to ensure fiscal discipline and sustainable growth. Therefore, statement 1 is correct.
2. Fiscal policy anchor should be public debt to GDP ratio:
The N.K. Singh Committee has recommended that the fiscal policy anchor should be the public debt to GDP ratio. The public debt to GDP ratio is a measure of the government's debt burden relative to the size of the economy. The committee believes that maintaining a sustainable level of public debt is crucial for fiscal stability and long-term growth. By making the public debt to GDP ratio the fiscal policy anchor, the committee aims to align fiscal policy decisions with debt sustainability considerations. Therefore, statement 2 is correct.
3. Target of fiscal deficit of 3.5% by 2023:
The third statement is incorrect. The N.K. Singh Committee has not recommended a target of fiscal deficit of 3.5% by 2023. Fiscal deficit is the difference between the government's total expenditure and its total revenue, including borrowing. While the committee has made various recommendations to improve fiscal discipline and consolidation, it has not specifically mentioned a target of 3.5% for fiscal deficit by 2023. Therefore, statement 3 is incorrect.
In conclusion, the correct statements regarding the N.K. Singh Committee recommendations are 1 and 2. The revenue deficit target of 0.8% by 2023 and the recommendation to make the public debt to GDP ratio the fiscal policy anchor are in line with the committee's recommendations. However, the target of fiscal deficit of 3.5% by 2023 is not mentioned in the committee's recommendations.
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Which of the following statements on N.K SinghCommittee recommendation...
N.k singh committee report recommended to reduce the fiscal deficit from 3.5 percent in 2017 to 2.5 percent by 2023.
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Which of the following statements on N.K SinghCommittee recommendations are correct?1. Revenue deficit target of 0.8% by 2023.2. Fiscal policy anchor should be public debtto GDP ratio.3. Target of fiscal deficit of 3.5% by 2023.Select the correct codea)All correctb)1 and 2 onlyc)1 and 3 onlyd)2 and 3 onlyCorrect answer is option 'B'. Can you explain this answer?
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