In India, Fiscal Responsibility and Budget Management Act, (FRBMA) was enacted in the year

2003

The correct answer is option (2) : 2003

The FRBM Act was passed in the year 2003. It is an act of the parliament that set targets for the Government of India to establish financial discipline, improve the management of public funds, strengthen fiscal prudence, and reduce its fiscal deficits. The FRBM Act was brought into effect on July 5, 2004.