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 appoints the members of the Finance Commission of India?
View Questionराज्यसभा की कार्यप्रणाली किस पर आधारित है?
View Questionभारतीय संविधान में मौलिक कर्तव्यों का प्रावधान किस अनुच्छेद में है?
View QuestionWhich article of the Indian Constitution allows the President to declare a National Emergency?
View Questionभारत का राष्ट्रपति किस प्रक्रिया द्वारा चुना जाता है?
View QuestionWhich of the following is NOT a function of the President of India?
View Questionसूचना का अधिकार किस अधिनियम के अंतर्गत आता है?
View QuestionWhich of the following is a provision related to the financial powers of the Parliament?
View QuestionWho was the first woman President of the Indian National Congress?
View Questionभारतीय संसद की दो सदनों का नाम क्या है?
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