GyanGramConsider the following statements 1. The Fiscal Responsibility and Budget Management (FRBM) Review Committee…
Read the full question, pick an option, then see whether you were right. The answer is not shown until you attempt.
Choose an option before the answer.
Consider the following statements
1. The Fiscal Responsibility and Budget Management (FRBM) Review Committee Report has recommended a debt to GDP ratio of 60% for the general (combined) government by 2023, comprising 40% for the Central Government and 20% for the State Governments.
2. The Central Government has domestic liabilities of 21% of GDP as compared to that of war of GDP of the State Governments.
3. As per the Constitution of India, it is mandatory for a State to take the Central Government’s consent for raising any loan if the former owes any outstanding liabilities to the latter.
Which of the statements given above is/are correct?
Pick an option to check yourself. The answer stays hidden until you attempt.
• Correct Answer: C
• The N.K. Singh FRBM Review Committee recommended a 60% combined debt-to-GDP ratio (40% Centre, 20% States) by 2023.
• Article 293(3) mandates State consent from the Centre for raising loans if outstanding liabilities to the Centre exist.
• Central Government domestic liabilities are higher (~46-49% of GDP), not 21%, making statement 2 incorrect.
Same year. Same subject. More attempts.
Keep attempting in GyanGram.
Filter by year or subject, attempt previous-year questions, and connect each miss back to a visual deck.