Which of the following statement(s) is/are correct?
A. Only I
B. Only II
C. Both I and II
D. Neither I nor II
Answer:C
Which of the following statement(s) is/are correct?
A. Only I B. Only II C. Both I and II D. Neither I nor II
Explanation: The FRBM Act, 2003 is an Act of the Indian parliament to institutionalize financial discipline, reduce India’s fiscal deficit, improve macroeconomic management and the overall management of the public funds by moving towards a balanced budget. The Act was enacted with a view to provide a legislative framework for reduction of deficit, and thereby debt, of the Government to sustainable levels over a medium term so as to ensure inter-generational equity in fiscal management and long term macro-economic stability.