Discussion
In which year was the Madhya Pradesh Rajkoshiya Uttardayitva Evam Budget Prabandhan Adhiniyam passed?
Answer: C
The Adhiniyam was passed in 2005.
Following the central Fiscal Responsibility and Budget Management Act of 2003 and the Twelfth Finance Commission's recommendation that states enact similar laws, Madhya Pradesh passed the Madhya Pradesh Rajkoshiya Uttardayitva Evam Budget Prabandhan Adhiniyam, 2005. It set targets for eliminating the revenue deficit and limiting the fiscal deficit to 3 per cent of gross state domestic product, and requires the government to place fiscal policy statements before the Assembly.
2003 is the year of the central FRBM Act, not the state law, and 2004 and 2006 are not the year of the Madhya Pradesh Act.
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