Question

Which of the following states the aim of the Fiscal and Budget Responsibility Act or FRBMA?

• A. To keep the fiscal deficit under control
• B. To keep the fiscal deficit constant for all financial years
• C. To empower the government to borrow money from foreign countries
• D. To keep the inflation under control

Answer 1

The correct option is A To keep the fiscal deficit under control

The Fiscal and Budget Responsibility Act or FRBMA was passed in 2003. The Act seeks to keep the fiscal deficit under control. It aims to bring financial stability for the overall growth of the economy.