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Statement 1 is correct: The Act prohibits borrowing by the government from the Reserve Bank of India, thereby, making monetary policy independent of fiscal policy. The Act bans the purchase of primary issues of the Central Government securities by the RBI after 2006, preventing monetization of government deficit. Statement 2 is incorrect: FRBM Act provides a legal institutional framework for fiscal consolidation. It is now mandatory for the Central government to take measures to reduce the fiscal deficit, eliminate revenue deficit and generate revenue surplus in the subsequent years. The Government can move away from the path of fiscal consolidation only in case of natural calamity, national security and other exceptional grounds which Central Government may specify. Statement 3 is correct: The concepts of the “Effective Revenue Deficit” and “Medium Term Expenditure Framework” statement are the two important features of the amendment to the FRBM Act in the direction of expenditure reforms.
A person spends 40% of his income on rent, 30% on food, and 20% on education. If he saves ₹2000, what is his total income?
The monthly incomes of A and B are in the ratio of 5:6. A's monthly savings are 50% higher than B's monthly savings, while A's monthly expenditure equal...
The average of a, b and c is 8 less than d. If the average of a, b, c and d is 42, and the average of b and c is 43. then find the average of (a-6) and ...
In the figure, ABCD is a cyclic quadrilateral with O as center of the circle If ∠ BOC = 136°, find ∠ OBC.
The sum of the interior angles of a polygon with n sides is 1800°. Find the value of n.
A container has 80 liters of pure milk. 20 liters of milk is removed and replaced with 20 liters of water. Then, 20 liters of the new mixture is removed...
If p = (19² – 18) +11² + 6, which of the following statements is correct?
A). 3p will always be divisible by 6.
B). 3p+5 will always b...
The highest common factor (HCF) of two numbers is 17. If their product is 867, how many pairs of numbers satisfy these conditions...
Calculate the percentage increase in the total profit of all companies combined from 2020 to 2023.
24.5% of 400 + 528 of 12.5 ÷ 11