What is the primary goal of India’s Fiscal Responsibility and Budget Management (FRBM) Act of 2003?
To control fiscal deficits
The FRBM Act, 2003 was enacted to ensure fiscal discipline in the country by setting targets for the government to reduce fiscal and revenue deficits over a defined period.
Its primary objective is to institutionalise financial discipline, improve macroeconomic management, and ensure prudent fiscal policy rather than to directly raise taxes, boost GDP, or increase subsidies.
Hence, the correct answer is to control fiscal deficits.
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