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SSC CGL 2022 PYQ — Question 26

SSC CGL - 21 April 2022 - Shift 1 • General Awareness • Q26

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The Fiscal Responsibility and Budget Management Act 2003 set a target to limit India’s fiscal deficit up to ______ of the GDP by 2021.

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Correct answer: B

Explanation

  • The correct answer is option 2 i.e. 3%
  • The Fiscal Responsibility and Budget Management (FRBM) Act 2003 set a target to limit India’s fiscal deficit up to 3% of the GDP by 2021.
  • In the year 2016, the NK Singh committee was set up by the government to review the FRBM Act. The task was to review the performance of the FRBM Act and suggest the necessary changes to the provisions of the act.