Consider the following statements
- 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.
- The Central Government has domestic liabilities of 21% of GDP as compared to 49% of GDP of the State Governments.
- 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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PYQs by Subject of 2018
Most repeated Topics from Economy in Last 5 years
Repeated Topics | Questions in Last 5 Years |
|---|---|
| Finance and Financial Markets | 27 (34%) |
| Money, Banking and Monetary Policy | 16 (20%) |
| Public Finance in India | 11 (14%) |
| Infrastructure and Investment Models in India | 9 (11%) |
| Services and Digital Economy | 9 (11%) |
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