Indian Polity · Polity
Consider the following statements regarding the Fiscal Responsibility and Budget Management (FRBM) framework in India: 1. The Central Government is required to lay before Parliament a Medium-Term Fiscal Policy Statement. 2. FRBM mandates absolute elimination of revenue deficit without any escape clause. 3. The Act allows deviation from fiscal targets under specified exceptional circumstances. 4. Fiscal deficit is measured as total expenditure minus total receipts excluding borrowings. Which of the statements given above are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 11, 2 and 3 only
- 22 and 3 only
- 31, 3 and 4 only✓
- 41 and 4 only
Correct answer
1, 3 and 4 only
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