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SSC MTS 2022 PYQ — Question 41

SSC MTS - 15 July 2022 - Shift 3 • General Awareness • Q41

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What does F stand for in the FRBM Act, 2003 of the Indian economy?

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Correct answer: B

Explanation

The correct answer is Option 2 i.e. Fiscal.

  • The FRBM Act is a fiscal sector legislation enacted by the government of India in 2003, aiming to ensure fiscal discipline for the centre by setting targets including reduction of fiscal deficits and elimination of revenue deficit.

  •  It is a legal step to ensure fiscal discipline and fiscal consolidation in India.

  • The FRBM Act was enacted in 2003 as rising government borrowing and the resultant government debts have seriously eroded the financial health of the government.