Economics · Fiscal Policy Reforms
The Second Generation Reforms in India focused heavily on fiscal deficit quality and public expenditure. Which of the following measures represents a key policy milestone achieving statutory fiscal consolidation?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Abolishing interest rate controls in rural credit cooperative societies.
- 2Implementing the Minimum Support Price (MSP) scheme across all major agricultural crops.
- 3Enacting the Fiscal Responsibility and Budget Management (FRBM) Act.✓
- 4Reducing the import duty on all manufactured goods to less than 10 percent.
Correct answer
Enacting the Fiscal Responsibility and Budget Management (FRBM) Act.
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