Which committee has submitted its 4 volume report on changes in FRBM Act, 2013 to the Union Finance Minister Arun Jaitley.

2017

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

A	Ashok Chawla Committee
B	A P Shah Committee
C	Deepak Mohanty Committee
D	N K Singh Committee

Explanation:

Detailed explanation-1: -IAS Exam Latest Updates NK Singh Committee on FRBM Act was formed to review the FRBM act in 2003 and 2016. The chairman of the committee was former Revenue and Expenditure Secretary Nand Kishore Singh. RBI Governor Urjit Patel, former Finance Secretary Arvind Subramanian, etc were other members.

Detailed explanation-2: -1 The FRBM review committee was formed in 2016 under the Chairmanship of NK Singh, former revenue and expenditure secretary. Its mandate was to review the Fiscal Responsibility and Budget Management act.

Detailed explanation-3: -The last amendment to the FRBM Act set a target of deficit of 3 percent of GDP by 2020-21. However, in the 2020 Union Budget, the target was relaxed to 3.5 percent as permitted under the Act.

Detailed explanation-4: -Detailed Solution. The correct answer is All of the above. The Fiscal Responsibility and Budget Management (FRBM) Act is a law enacted by the Government of India in 2003 to ensure fiscal discipline – by setting targets including reduction of fiscal deficits and elimination of revenue deficit.

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