Fiscal Responsibility and Budget Management Act (FRBM)

When was the N.K. Singh Committee for the Review of FRBM Act constituted?

Which one of the following is an objective of the FRBM ACT?

What was the revised year of target realisation according to the Amendment in FRBM ACT $2015$?

Which FRBM amendment introduced the concept of Effective Revenue Deficit (E.R.D)?

What is the target set by the provisions of the FRBM Amendment Act, $2015$?

The Fiscal Responsibility and Budget Management Act, $2003$ was introduced by:

Every year the Economic Survey is compiled by:

a) Office of Economic Advisor

b) Central Statistical Office (CSO)

c) National Sample Survey Organisation (NSSO)

d) Department of Economic Affairs

Which one of the following is the largest item of expenditure of the Government of India on revenue account?

a) Defence

b) Subsidies

c) Pensions

d) Interest payments

In the year _____, the NK Singh committee was set up by the government to review the FRBM Act.

In which year was the Fiscal Responsibility and Budget Management Act passed?

Fiscal deficit implies:

a) Total expenditure – (Revenue receipts + Recovery of loans + Receipts from disinvestment)

b) Total expenditure – Total receipts from all sources ,including borrowings

c) Total expenditure – (Revenue receipts + Fresh loans)

d) Total expenditure – Disinvestment receipts

 Consider the following statements regarding Fisal Policy:

1. It helps to maintain the economy’s growth rate so that certain economic goals can be achieved.
2. It aims to achieve full employment, or near full employment, as a tool to recover from low economic activity.

Which of the statements given above is/are correct?

The primary deficit in a government budget will be zero, when _______
(A) Revenue deficit is zero
(B) Net interest payments are zero
(C) Fiscal deficit is zero
(D) Fiscal deficit is equal to interest payment

Fiscal consolidation is one of the objectives of India’s economic policy. Which of the following would help in fiscal consolidation ?
1. increasing taxes
2. getting more loans
3. reducing subsidies

With reference to deficit financing, the monetized deficit is the part that is financed through:
a) borrowings from public sector scheduled commercial banks
b) external commercial borrowings
c) borrowings from RBI
d) none of the above

The Fiscal Responsibility and Budget Management (FRBM) Act aimed for
1. eliminating both revenue deficit and fiscal deficit
2. giving flexibility to RBI for inflation management
Which of the statements given above is/are correct ?

What the term FRBM means?

Fiscal deficit is:

Union budget is always presented first in: 

Which of the following is a measure of fiscal reforms Government of India has adopted?