Which one of the following was not stipulated in the Fiscal Responsibility and Budget Management Act, 2003 ?
Options
(a)Elimination of revenue deficit by the end of the fiscal year 2007-08
(b)Non-borrowing by the central government from Reserve Bank of India except under certain circumstances
(c)Elimination of primary deficit by the end of the fiscal year 2008-09
(d)Fixing government guarantees in any financial year as a percentage of GDP
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Class 12Government Budget and the Economy— NCERT Economics, Chapter 5. The government budget — the Annual Financial Statement required by Article 112 — lists estimated receipts and expenditure for the financial year (1 April–31 March). It…
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