Question

Select the recent developments in the area of fiscal prudence and consolidation using the code given below:
1. Devising the twin concepts of 'monetized deficit' and 'primary deficit'
2. Redefining the idea of 'fiscal deficit'
3. Abolishing the classification of 'development' and 'non-development' categories development' categories of expenditures

• A. 1 and 2
• B. 2 and 3
• C. 1 and 3
• D. 1,2 and 3

Answer 1

The correct option is D 1,2 and 3

All the above given development took place in the year 1997−981997−98 in the process of fiscal reforms process started by the Government of India.