Question
EconomyPublic Finance, Budget and TaxationFiscal Deficits, Public Debt and FRBMMedium (editorial estimate)
Question details
- Type:
- Statement based
- Skill:
- Concept understanding
- Tags:
- Fiscal Deficits, Public Debt and FRBM · Public Finance, Budget and Taxation
- Related topics:
- Centre-State Administrative and Financial Relations
Classification and difficulty are editorial labels. Explanations are awaiting review.
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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 49% 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?
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Question 9 · Fiscal Deficits, Public Debt and FRBM · Economy · UPSC Prelims 2018 (GS)