Consider the following statements: 1. The Fiscal Responsibility and Budget Management (FRBM) Review Committee Report has recommended a debt to GDP ratio of 60% for the general (combined) government by 2023, comprising 40% for the Central Government and 20

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Q: 24 (IAS/2018)
Consider the following statements:
1. The Fiscal Responsibility and Budget Management (FRBM) Review Committee Report has recommended a debt to GDP ratio of 60% for the general (combined) government by 2023, comprising 40% for the Central Government and 20% for the State Government.
2. The Central Government has domestic liabilities of 21% of GDP as compared to that of 49% of GDP of the State Government.
3. As per the Constitution of India, it is mandatory for a State to take the Central Government’s consent for raising any loan if the former owes any outstanding liabilities to the letter.
Which of the statements given above is/are correct?
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question_subject: 

Economics

question_exam: 

IAS

stats: 

0,83,93,38,33,83,22

keywords: 

{'debt': [0, 0, 0, 1], 'fiscal responsibility': [0, 0, 2, 0], 'loan': [1, 0, 1, 6], 'outstanding liabilities': [0, 0, 0, 1], 'domestic liabilities': [0, 0, 0, 1], 'gdp': [0, 0, 0, 1], 'budget management': [0, 0, 2, 1], 'gdp ratio': [0, 0, 0, 1], 'central government': [1, 0, 0, 1], 'constitution': [39, 3, 11, 39], 'review committee report': [0, 0, 0, 1], 'state government': [0, 0, 1, 0], 'frbm': [0, 0, 2, 1], 'government': [5, 0, 0, 1], 'consent': [1, 0, 0, 0]}