4) Most states achieved and maintained the target fiscal deficit level (3 percent of GSDP) and eliminated the revenue deficit soon after the introduction of their Fiscal Responsibility Legislation (FRL). Was FRL sole reason behind states’ good fiscal performance? Critically examine.

Topic: Indian economy growth and development

4) Most states achieved and maintained the target fiscal deficit level (3 percent of GSDP) and eliminated the revenue deficit soon after the introduction of their Fiscal Responsibility Legislation (FRL). Was FRL sole reason behind states’ good fiscal performance? Critically examine. (200 Words)

The Economic Survey 2016-2017, Chapter 6