Question : What does F stand for in the FRBM Act, 2003 of the Indian economy?
Option 1: Financial
Option 2: Fiscal
Option 3: Functional
Option 4: Freedom
Correct Answer: Fiscal
Solution : The correct option is Fiscal
The FRBM Act, which stands for the Fiscal Responsibility and Budget Management Act, was enacted by the Government of India to institutionalise fiscal discipline and promote transparency and accountability in fiscal management. The Act aims to bring about fiscal stability and sustainability in the Indian economy by setting targets for reducing the fiscal deficit and revenue deficit.
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