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Economy
Fiscal Policy
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UPSC Prelims 2024 Paper-I 📅 16 Jun, 2024

The Fiscal Responsibility and Budget Management (FRBM) Act, 2003 aims to:
1. Eliminate revenue deficit completely.
2. Bring down the fiscal deficit to a manageable limit.
3. Provide flexibility to the Reserve Bank of India for inflation management.

Select the correct answer using the code given below:

A
1 and 2 only
B
2 and 3 only
C
1 and 3 only
D
1, 2 and 3
Result Summary
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UPSC Prelims
2024 • 16 Jun, 2024 • Paper-I
The Fiscal Responsibility and Budget Management (FRBM) Act, 2003 aims to:
1. Eliminate revenue deficit completely.
2. Bring down the fiscal deficit to a manageable limit.
3. Provide flexibility to the Reserve Bank of India for inflation management.

Select the correct answer using the code given below:
Correct Answer
1, 2 and 3
Economy: Fiscal Policy.Context: FRBM Act.Details: The FRBM Act was enacted to introduce financial discipline. Its main objectives were the complete elimination ......
Ref/Book : UPSC Prelims 2024
Ref. Subject Economy
Chapter -
Ref. Topic Fiscal Policy
Pg. No -
💡 Analysis & Explanation
Economy ▼
Fiscal Policy.
Context ▼
FRBM Act.
Details ▼
The FRBM Act was enacted to introduce financial discipline. Its main objectives were the complete elimination of revenue deficit, bringing down the fiscal deficit to 3% of GDP, and ensuring macroeconomic stability, which inherently provides the RBI with better flexibility to manage inflation without the pressure of monetizing government debt.
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