Official Answer Key & Detailed Solution
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Correct Answer: Option (C) — Both fiscal deficit and revenue deficit
Concept & Option Breakdown
Standard Reference VerifiedThe Fiscal Responsibility and Budget Management (FRBM) Act, 2003, was enacted to ensure inter-generational equity in fiscal management and long-term macro-economic stability. It prescribed binding statutory targets for reducing both the Fiscal Deficit and the Revenue Deficit.
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