Which one of the following was NOT stipulated in the Fiscal Responsibility and Budget Management Act, 2003?
- (a)Elimination of revenue deficit by the end of the fiscal year 2007-08
- (b)Non-borrowing by the Central Government from Reserve Bank of India except under certain circumstances
- (c)Elimination of primary deficit by the end of the fiscal year 2008-09
- (d)Fixing government guarantees in any financial year as a percentage of GDP
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Official answer(c) Elimination of primary deficit by the end of the fiscal year 2008-09