Fiscal Responsibility and Budget Management Act (FRBMA) was framed in which year.
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → 2003
The Fiscal Responsibility and Budget Management Act (FRBMA) was enacted by the Parliament of India in 2003. Its main objective was to ensure fiscal discipline, reduce fiscal deficit, and improve macroeconomic management by setting targets for revenue deficit and fiscal deficit.