Subject: Polity
Book: Indian Polity by M. Laxmikanth
At the Union level, the Finance Ministry crafts budgetary policies, mobilizes resources, and manages public debt. The FRBM Act (2003) mandates fiscal discipline—limiting fiscal deficit, controlling borrowings, and ensuring medium-term fiscal frameworks. States have parallel FRBM laws. These measures aim at macroeconomic stability, reducing inflationary pressures, and facilitating growth. However, off-budget liabilities and populist schemes sometimes strain compliance. Union-states coordinate borrowing limits, guided by Finance Commission recommendations. The ministry’s regulatory role extends to banking and insurance. Mastering these aspects clarifies the governance of public finances, crucial for stable economic conditions under India’s democratic setup.
Who among the following is known as the "Father of the Nation" in India?
View QuestionWho was the first woman President of the Indian National Congress?
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View QuestionThe Parliament of India consists of which of the following?
View Questionसंविधान सभा के सदस्यों का चुनाव किस प्रकार से हुआ था?
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