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UPSC 2006: Which one of the following statements is correct? Fiscal Responsibility and Budget Management Act (FRBMA) concerns
(a)fiscal deficit only
(b)revenue deficit only
(c)both fiscal and revenue deficit
(d)neither fiscal deficit nor revenue deficit
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Not attemptedCorrect Answer: (c) both fiscal and revenue deficit
The Fiscal Responsibility and Budget Management Act, 2003 fixed separate annual targets for reducing both the fiscal deficit (to 3 % of GDP) and the revenue deficit (to zero) by 2008–09, so it simultaneously addresses both deficits. ([en.wikipedia.org](https://en.wikipedia.org/wiki/Fiscal_Responsibility_and_Budget_Management_Act%2C_2003?utm_source=openai))
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Frequently Asked Questions
What is the correct answer to this UPSC 2006 Indian Economy question?▼
The correct answer is option (c): both fiscal and revenue deficit. Watch the detailed video explanation in our Sherlocking Prelims course on UnlockIAS.
Which year was this Fiscal Policy & Budget question asked in UPSC Prelims?▼
This question was asked in UPSC CSE Prelims 2006, GS Paper 1, as Question 24. It falls under Indian Economy > Fiscal Policy & Budget.
What is the difficulty level of this UPSC question?▼
This question is rated "easy". It tests basic recall and most well-prepared aspirants should answer it correctly.
How many UPSC Prelims questions have been asked from Fiscal Policy & Budget?▼
UPSC has asked 44 questions from Fiscal Policy & Budget (under Indian Economy) across multiple years. Visit the topic page to see the full list and year-wise trends.