UPSC

Public debt, often referred to as government debt, is a financial obligation incurred by a government when it borrows funds to finance its expenditures or investments

Q61. With reference to ‘National Skills Qualification Framework (NSQF)’, which of the statements given below is/are correct?

Domestic savings in India play a pivotal role in shaping the nation’s economic landscape, serving as a cornerstone for investment, growth, and development.

Plan and non-plan expenditure classification is a fundamental framework employed by governments to allocate and manage financial resources effectively.

Zero Base Budgeting (ZBB) emerged as a methodology to address these challenges. First introduced in the Union Budget in 1987

Off-budget financing refers to financial activities undertaken by governments or organizations that are not included in the main budgetary process

Fiscal consolidation entails strengthening government finances, aiming to reduce annual borrowings and historical cumulative public debt.

The Fiscal Responsibility and Budget Management (FRBM) Act stands as a cornerstone of fiscal policy in many countries, aimed at ensuring prudent financial management

Q60.With reference to the role of UN-Habitat in the United Nations program working towards a better urban future, which of the statements is/are correct?

During periods of economic downturn or crisis, fiscal stimulus becomes a crucial tool for governments to boost economic activity.