FRBM Act stands for:

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	Fiscal Revenue and Budget Management
B	Foreign Revenue and Business Management
C	Fiscal Responsibility and Budget Management
D	Foreign Responsibility and Budget Management

Explanation:

Detailed explanation-1: -The FRBM Act, 2003 sets a target for the government to establish financial discipline in the economy, reduce fiscal deficit and improve the management of public funds. The Act sets target for the government to bring down fiscal deficit.

Detailed explanation-2: -The objective of the FRBM Act was to get financial and macroeconomic stability. The fiscal policy has been established to balance the economic condition in India. The Fiscal Responsibility and Budget Management Act’s principal goals were to: Establish transparent fiscal management mechanisms in the country.

Detailed explanation-3: -16-11-2022 The Act envisages the setting of limits on the Central government’s debt and deficits. It limited the fiscal deficit to 3% of the GDP. It also mandates greater transparency in fiscal operations of the Central government and the conduct of fiscal policy in a medium-term framework.

Detailed explanation-4: -The objective of the Fiscal Responsibility and Budget Management Act, 2004 is. to reduce revenue deficit. to reduce fiscal deficit. to ensure that public debt does not exceed 50% of the GDP of the year from 2011.

There is 1 question to complete.