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9) India’s FRBM Act as well as the Kelkar Committee (2012) established the principle of aiming to bring the centre’s fiscal deficit down to 3 percent of GDP. Why utmost importance is given to this principle in India? Examine how does the recent Economic Survey seek to achieve this target.

Topic: Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment.

9) India’s FRBM Act as well as the Kelkar Committee (2012) established the principle of aiming to bring the centre’s fiscal deficit down to 3 percent of GDP. Why utmost importance is given to this principle in India? Examine how does the recent Economic Survey seek to achieve this target. (200 Words)

Economic Survey – 2014-15, Volume – 1: Chapter – 2