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Which one of the following statements is correct? Fiscal Responsibility and Budget Management Act (FRBMconcerns

Which one of the following statements is correct? Fiscal Responsibility and Budget Management Act (FRBMconcerns

(a)

Fiscal deficit only

(b)

Revenue deficit only

(c)

Both fiscal and revenue deficit

(d)

Neither fiscal deficit nor revenue deficit

Answer:

(c)

Explanation

FRBMA addresses both fiscal and revenue deficits for financial discipline.