Which of the following statements is/are correct regarding the CAG Report on FRBM Compliance and India's fiscal targets?
1. The CAG reported that the central government debt increased to over 60 percent of GDP by March 2024.
2. The N.K. Singh Committee on FRBM recommended a central government debt target of 40 percent of GDP.

Question

Accepted Answer

B. 2 only — Statement 1 is incorrect because the CAG report noted that central government debt consistently declined to 57 percent of GDP by March 2024. Statement 2 is correct as the N.K. Singh Committee recommended a general government debt target of 60 percent, divided into 40 percent for the Centre and 20 percent for the States.

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