gs1medium
Consider the following statements:
- 1.The Fiscal Responsibility and Budget Management Act, 2003 (FRBMA) concerns the Central Government.
- 2.The Central Government has enacted 'The Electricity Act, 2003' to reform the power sector.
Which of the statements given above is/are correct?
- A.1 only
- B.2 only
- C.Both 1 and 2
- D.Neither 1 nor 2
▶ Answer & Explanation
Correct answer: C. Both 1 and 2
The Fiscal Responsibility and Budget Management Act (FRBMA) was enacted by the Central Government to introduce transparency and accountability in fiscal management. Similarly, the Electricity Act, 2003, was also enacted by the Central Government to bring about reforms in the power sector. Therefore, both statements are correct.
Source: UPSC gs1 2023